Due to the demographic development, public pension systems in the European Union organized on a pay-as-you-go (PAYG) principle will be forced to either raise contribution rates or taxes, shorten future replacement rates, or enforce a combination of both. In this regard, two important issues have to be addressed: The first issue refers to the question of measuring the public pension liabilities of private households until today. The extent of thes...
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With the effects of the latest financial crisis still unfolding, this is a timely guide to the politics of international financial reform comparing the policies that the international community reques...