Autori
Varga, Zoltan
Arezzo, Maria Felice
Attias, Anna
Pianese, Augusto

Titolo
Modelling a possible change in the italian pay-as-you-go pension system
Periodico
Università degli Studi di Roma "La Sapienza" - Dipartimento di metodi e modelli per l'economia il territorio e la finanza. Working papers
Anno: 2015 - Fascicolo: 144 - Pagina iniziale: 1 - Pagina finale: 20

The aim of our paper is to compare the adequacy of the pension system in force (Fornero's law) with the proposal presented by Giuliano Cazzola e Tiziano Treu. To assess the adequacy we compare the population averaged replacement rates (i.e. the ratio between the monthly pension and the last wage perceived by the worker) emerging under the two systems. We make use of a mathematical model which, under the hypothesis of demographic equilibrium, formalizes the legislative changes of the pay-as-you-go pension system.




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