I analyze simultaneous voting on the wage tax rate and investment in public education using a model with three overlapping generations and ability differences inside each cohort. Wage tax revenue finances public education and social security benefits. I derive the results both for a...

Most workers in developing countries have no access to pensions in old age. Well-intentioned reformers have concentrated on privatization, but this does nothing to expand coverage. Non-contributory, universal pensions automatically protect an entire population, in a way that contributory...

This paper is a part of the author's wider research on the current Polish pension fund system. It deals with the systemfs efficiency from the point of view of the individual fund member. After over three years of functioning, the savings accumulated with the pension funds only slightly exceed...

Keeping public finances on a sustainable foundation while the population ages is clearly a problem in Finland, as in many other western countries. The shrinking of the working-age population, ageing of the labour force, and growth in the number of very old persons form a difficult combination...

The paper is an updated first performance evaluation study of the Polish pension funds operating from 1999. The unconditional performance evaluation models are used. It is shown that pension fund managers did produce additional value due to active management. Therefore, unsatisfactory overall...

This paper investigates the dynamic consequences of demographic change and various pension reform scenarios for Austria. The analysis is based on a computable overlapping generations model with life-cycle labor supply, savings, and search unemployment. The public sector is decomposed into...

This publication is a non-technical report prepared for Polish Ministry of Economy and Labor. The main goal is to present a comprehensive statistical and econometric analysis of employment, unemployment and participation in Poland in the period 1998-2004 and confront Polish experiences with...

When it comes to retirement income policy, there is a general perception that workers have full 40-year working careers before retiring. Further, it is generally assumed that workers with low lifetime earnings have low earnings in each year during a normal working career. The basic research...

That the Government of Mauritius provides nearly every resident over the age of 60 with a non-contributory, basic pension is one of the best-kept secrets in the world. The scheme dates from 1950 and became universal in 1958, following abolition of a means test. Remarkably, introduction of a...

Concern is growing regarding the poverty impacts of trade liberalization. The strong general equilibrium effects of trade liberalization can only be properly analysed in a CGE model. However, the aggregate nature of CGE models is not suited to detailed poverty analysis. We bridge this gap by...