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Pension Reform in the Czech Republic - A Contribution into the Debate

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  • Marek Loužek

Abstract

The paper is concerned with pension reform in the Czech Republic and abroad. It argues against two opinions: on the one hand, it is not necessary to do anything, and on the other hand, that a mandatory funded system should be implemented. Both approaches are false because of creating overwhelming explicit debts. The author recommends an evolutionary approach based on decreasing PAYG in combination with voluntary savings.

Suggested Citation

  • Marek Loužek, 2007. "Pension Reform in the Czech Republic - A Contribution into the Debate," Prague Economic Papers, Prague University of Economics and Business, vol. 2007(1), pages 55-69.
  • Handle: RePEc:prg:jnlpep:v:2007:y:2007:i:1:id:297:p:55-69
    DOI: 10.18267/j.pep.297
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    More about this item

    Keywords

    transition; pension reform; social security insurance; endogenous fertility; Ricardo-Barro hypothesis;
    All these keywords.

    JEL classification:

    • D02 - Microeconomics - - General - - - Institutions: Design, Formation, Operations, and Impact
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies

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