On Improving the Greek Social Security System Via Equity Investment

22 Pages Posted: 26 May 2004

See all articles by Nikolaos T. Milonas

Nikolaos T. Milonas

National and Kapodistrian University of Athens - Faculty of Economics; Cardiff University Business School

George A. Papachristou

Aristotle University of Thessaloniki - Department of Economics

Theodore A. Roupas

Greek Ministry of Health and Social Services

Date Written: January 25, 2004

Abstract

Economic and demographic slowdown has put under strain public pension systems around the globe. The actuarial balance of the PAYG system can only be restored by reshuffling its parameters and by attaining a higher return on its reserves. In this paper we investigate the extent to which an acceptable use of stock market opportunities could have relieved the pressure off the Greek public pension system while reducing the risks associated with such an exercise.

Keywords: PAYG system, pension fund reserves, social security system, random generation process, equity investment

Suggested Citation

Milonas, Nikolaos T. and Papachristou, George A. and Roupas, Theodore A., On Improving the Greek Social Security System Via Equity Investment (January 25, 2004). Available at SSRN: https://ssrn.com/abstract=493142 or http://dx.doi.org/10.2139/ssrn.493142

Nikolaos T. Milonas (Contact Author)

National and Kapodistrian University of Athens - Faculty of Economics ( email )

8 Pesmazoglou street
GR-10559 Athens
Greece

Cardiff University Business School

Aberconway Building
Colum Drive
Cardiff, CF10 3EU
United Kingdom

George A. Papachristou

Aristotle University of Thessaloniki - Department of Economics ( email )

Thessaloniki, 54124
Greece

HOME PAGE: http://users.auth.gr/~gpapahr

Theodore A. Roupas

Greek Ministry of Health and Social Services

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