With looming fiscal pressure from an aging population, policy makers must grapple with the
question of how to restore solvency to the Social Security budget. At this crossroads, it …

This paper stems from the observation that there are two worldwide trends, pension reform
and population ageing, and asks whether the two may be related. Exploring the cases of …

We describe the points system as proposed by the Belgian Commission for Pension Reform
2020–2040. Intragenerational equity can be realised through the allocation of points within a …

Motivated by declining support for mandatory participation in pension arrangements, we
explore whether the intergenerational risk-sharing benefits that these arrangements offer …

This paper develops an overlapping generation model of endogenous growth by
incorporating an idiosyncratic productivity shock and heterogeneous individual labor …

Purpose: This paper aims to empirically examine the adequacy of the future benefits of the
funded pension scheme. Design/methodology/approach: This study investigates a large real …

Over the last decades, we have generally seen a gradual shift from pay-as-you-go (PAYG) to
funding to finance pensions. In this paper, we develop an analytical framework that includes …

When analyzing financial markets, it needs to mine effective information from massive data.
However, it is difficult to obtain information from image information. In order to improve the …

This paper presents a study of the growth and welfare effects of four public pension systems
under aggregate and idiosyncratic shocks. The equilibrium growth rate obtained under the …

We describe the points system that has been proposed by the Belgian Commission for
Pension Reform 2020-2040. Intragenerational equity can be realised in a flexible and …