2Boado-Penas, M. C. , S. Valdes-Prieto and C. Vidal-Melia. An Actuarial Balance Sheet for Pay-As-You-Go Fi- nance :Solvency Indicators for Spain and Sweden[J]. Fiscal Studies,2008,29:89 -134.
3C. Vidal-Melia, Boado-Penas, M. C. and O. Settergren, Automatic Balance Mechanisms in Pay-As-You-Go Pension Systems. The Geneva Papers ,2009,34:287 - 37.
4Robert Novy-Marx and Joshua D. Rauh. Public Pension Promises:How Big Are They and What Are They Worth? [ J ]. Journal of Finance ,2011,4 : 1211 - 1249.
5Vidal-Melia & Boado-Penas. Compiling the actuarial balance for pay-as-you-go pension systems:Is it better to use the hidden asset or the contribution asset? [J]. Applied Economics,2011,45(10) :1303 -1320.