Search results for "jel:H5"
showing 2 items of 12 documents
The Actuarial Balance Sheet for Pay-As-You-Go Finance: Solvency Indicators for Spain and Sweden
2008
This paper provides the first estimate of the actuarial balance of the Spanish contributory pension system for the old-age contingency, based on official data. The main accounting entries are developed from the principles of double-entry bookkeeping. The novel entry in the balance sheet, entitled the ‘contribution asset’ or ‘hidden asset’, is at the centre of the theoretical discussion. A comparison between the official balance sheet for the Swedish notional account system and our balance sheet for the Spanish contributory pension system is also provided. The main finding is that the Spanish pension system has an insolvency rate of 31.4 per cent. The policy implication is that unless curren…
RECONSIDERING THE FUNDING SOURCES FOR THE HEALTH SYSTEM IN ROMANIA
2010
An optimal health system must ensure that all citizens have free access to medical services, and to determine the effective use of funds. We therefore reach the conclusion that the health financing system that best meets the optimal criteria is the public one. We believe that a system of public health funding should be based not only on contributions, but also on funding from the state budget; therefore it should combine the two public sources. If it were based solely on contributions, then the earnings should be volatile towards the economic cyclicality, and would not ensure the fiscal sustainability of the system. The private health financing system should be based on private insurances, …