Galasso, Vincenzo - C.E.P.R. Discussion Papers - 2006
Conventional economic wisdom suggests because of the aging process, social security systems will have to be retrenched … under aging in France, Italy, the UK, and the US. Simulations for the year 2050 steady state demographic, economic and … negative income effect induced by aging, which reduces the profitability of the existing social security system, and thus the …