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The Impact Of The Economic And Financial Crisis On Pension Systems In The European Union

Author

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  • Daniel Nicolae Militaru

    (Faculty of Economics and Business Administration, University of Craiova, Craiova, Romania)

Abstract

This article aims to highlight the impact of the financial crisis on national pension systems in the European Union and to identify the necessary measures for the reform of pension systems in order to ensure their financial sustainability on long term. The financial crisis has affected all pension systems worldwide and the ongoing global recession is affecting the anti-crisis measures taken by governments to limit the negative effects of the impact of this crisis on the national pension systems. Having to face these two events which follow each other rapidly, most of the world's governments react erratically and in different ways.

Suggested Citation

  • Daniel Nicolae Militaru, 2011. "The Impact Of The Economic And Financial Crisis On Pension Systems In The European Union," Revista Tinerilor Economisti (The Young Economists Journal), University of Craiova, Faculty of Economics and Business Administration, vol. 1(17), pages 15-19, November.
    • Handle: RePEc:aio:rteyej:v:1:y:2011:i:17:p:15-19
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    References listed on IDEAS

    as
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    3. Burton G. Malkiel, 2003. "The Efficient Market Hypothesis and Its Critics," Journal of Economic Perspectives, American Economic Association, vol. 17(1), pages 59-82, Winter.
    4. Burton G. Malkiel, 2003. "The Efficient Market Hypothesis and Its Critics," Working Papers 111, Princeton University, Department of Economics, Center for Economic Policy Studies..
    5. Burton G. Malkiel, 2003. "The Efficient Market Hypothesis and Its Critics," Working Papers 111, Princeton University, Department of Economics, Center for Economic Policy Studies..
    6. Timmermann, Allan & Granger, Clive W. J., 2004. "Efficient market hypothesis and forecasting," International Journal of Forecasting, Elsevier, vol. 20(1), pages 15-27.
    7. repec:pri:cepsud:91malkiel is not listed on IDEAS
    8. Fama, Eugene F, 1970. "Efficient Capital Markets: A Review of Theory and Empirical Work," Journal of Finance, American Finance Association, vol. 25(2), pages 383-417, May.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    economic and financial crisis; pension system reform; pension costs; anti-crisis policies;
    All these keywords.

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors

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