Rother, P.C.; Catenaro, M.; Schwab, G. - World Bank Group - 2003
-as-you-go pension systems. This study presents an independent estimate of this burden for the euro area, and quantifies the impact of … two reform scenarios. Based on widely used, but optimistic assumptions, the present value of future pension deficits … balance pension systems at best temporarily. A comprehensive reform, including reforms of current systems, and a move towards …