The aim of this article is to explore main linkages among the participation rate, potential output and pension funding system. Based on the existing literature, there are several possibilities how to render the current set-up of the pension system sustainable. This sustainability is...

The paper deals with some relevant effects of appreciation of housing prices on social and aggregate welfare. As it has been found difficult to assess the current situation given the housing market being the most affected by the crisis, earlier data from 1995 to 2006 have been used. It...

ERES:conference

This paper explores the aggregate welfare effects of housing price changes in the heterogeneous agent general equilibrium model with multi-sector production side. The model includes two types of households:credit-constrained households and unconstrained households. These types differ not only...

Rent regulation, which was put into effect in the Czech Republic in 1980s, has created a shortage of affordable rental housing in Czech Republic and has resulted in considerable difference between the free-market rents and regulated rents. Due to growing public pressure, in 2006 the government...