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Pensions and Fertility : Back to the Roots -- The Introduction of Bismarck's Pension Scheme and the European Fertility Decline
Fenge, Robert - 2014
Fertility has long been declining in industrialised countries and the existence of public pension systems is considered as one of the causes. This paper provides detailed evidence based on historical data on the mechanism by which a public pension system depresses fertility. Our theoretical...
Persistent link: https://www.econbiz.de/10013047746
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Pensions and Household Savings : Cross-Country Heterogeneity in Europe
d’Addio, Anna - 2020
We address the question of whether the heterogeneity in savings is partly due to differences in pension wealth across individuals and across countries, using a European harmonised wealth survey (HFCS) combined with estimates of pension wealth (OECD). First, we find significant displacement...
Persistent link: https://www.econbiz.de/10012842350
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The Impact of Extreme Weather Events on Budget Balances and Implications for Fiscal Policy
Lis, Eliza M. - 2009
This paper explores implications of climate change for fiscal policy by assessing the impact of large scale extreme weather events on changes in public budgets. We apply alternative measures for large scale extreme weather events and conclude that the budgetary impact of such events ranges...
Persistent link: https://www.econbiz.de/10013159926
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Fiscal Sustainability and Policy Implications for the Euro Area
Balassone, Fabrizio - 2009
In this paper we examine the sustainability of euro area public finances against the backdrop of population ageing. We … alternative indicators to quantify sustainability gaps for euro area countries. With respect to the policy implications, we assess … the appropriateness of different budgetary strategies to restore fiscal sustainability taking into account …
Persistent link: https://www.econbiz.de/10012765709
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3-Step Analysis of Public Finances Sustainability : The Case of the European Union
Afonso, António; Rault, Christophe - 2021
We use a 3-step analysis to assess the sustainability of public finances in the EU27. Firstly, we perform the SURADF … sustainability is an issue in most countries, with a below unit estimated coefficient of expenditure in the cointegration relation …
Persistent link: https://www.econbiz.de/10013316526
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Aging and Pension Reform : Extending the Retirement Age and Human Capital Formation
Vogel, Edgar - 2012
Projected demographic changes in industrialized countries will reduce the share of the working-age population. Analyses based on standard OLG models predict that these changes will increase the capital-labor ratio. Hence, rates of return to capital decrease and wages increase with adverse...
Persistent link: https://www.econbiz.de/10013100571
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Population Ageing and Public Pension Reforms in a Small Open Economy
Nickel, Christiane; Rother, Philipp; Theophilopoulou, … - 2021
impact of different fiscal policies in terms of public debt sustainability but most importantly suggest policies that smooth …
Persistent link: https://www.econbiz.de/10013316600
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Towards expenditure rules and fiscal sanity in the euro area
Hauptmeier, Sebastian; Sanchez Fuentes, Jesus; … - 2010
The study looks at primary expenditure developments in the euro area, its three largest members and four “macro-imbalances” countries for the period 1999-2009. It compares actual expenditure trends with those that would have prevailed if countries had followed neutral policies based on...
Persistent link: https://www.econbiz.de/10011605312
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Towards Expenditure Rules and Fiscal Sanity in the Euro Area
Hauptmeier, Sebastian - 2010
The study looks at primary expenditure developments in the euro area, its three largest members and four “macro-imbalances” countries for the period 1999-2009. It compares actual expenditure trends with those that would have prevailed if countries had followed neutral policies based on...
Persistent link: https://www.econbiz.de/10013136395
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Fiscal Sustainability using Growth-Maximising Debt Targets
Checherita-Westphal, Cristina D. - 2012
This paper highlights the importance of debt-related fiscal rules and derives growth-maximizing public debt ratios from a simple theoretical model. On the basis of evidence on the productivity of public capital, we estimate public debt targets that governments should try to maintain if they wish...
Persistent link: https://www.econbiz.de/10013100835