The Czech social-security system is hampered by the ageing population, similarly as all European systems. The discussion of remedies is still very rudimentary. Pro-reform arguments concentrate on the non-sustainability of the current system in the long term and on the miserable returns the...

This paper is focused . using the example of the Czech Republic since 1993 . on a description of the hidden risks, implicitly existing in the system of public finances during the transition period (from a centrally planned towards market economy). The starting assumption is that public budgets...

The Czech social-security system is hampered by the aging population, similarly as all European systems. The discussion of remedies is still very rudimentary. Pro-reform arguments concentrate on the non-sustainability of the current system in the long term and on the miserable returns the system...

This paper is focused - using the example of the Czech Republic since 1993 - on a description of the hidden risks, implicitly existing in the system of public finances duringthe transition period (from a centrally planned towards market economy). The starting assumption is that public budgets...