Edward C. Prescott quote

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After World War II, there were a lot of pension funds in Europe that were fully funded, but they were pressured to hold a lot of government debt. There was a lot of inflation, and the value of all those assets fell. Those pension funds couldn't honor their promises to the people.
Edward C. Prescott
Edward C. Prescott
Born: Dec 26, 1940

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War, Government, People, World, Inflation, Honor, Value, Promises, Those, Pressured, Pension, Fell, Were, Lot, Debt, Hold, After, Europe, Fully, Assets, Funds, World War, World War II

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