With population ageing, fiscal consolidation has become of paramount importance for euro area countries. Consolidation can be pursued in various ways, with different effects on potential growth, which itself will be dragged down by ageing. A dynamic general equilibrium model with overlapping...

Ce document étudie le système de retraite français et son évolution dans un contexte de vieillissement de la population. Le premier rapport présente le contexte démographique et propose des éléments d'analyse sur le système de retraite actuel. Le second rapport étudie les relations...

This paper discusses the impact of aging on the financial equilibrium of the Tunisian retirement system and the macroeconomic implications of reform, including a partial switch to pre-funding. We use a stylized, closed economy and an overlapping-generation model to analyze the impact of the...

The heterogeneity of private-sector career paths raises many problems for estimating future retirees’pensions, which are calculated according to complex rules. Using a projection model based on typical and weighted career profiles, we can grasp the mechanisms involved and assess intra- and...

In this article, tests for globalization and contagion are separated using an ex ante definition of crises, and contagion tests are neutralized with respect to globalization effects. A large database is constructed to study the stability of correlation matrices for four asset classes : equities,...

Cet article pose les premières bases d’un modèle de marketing sensoriel qui articulerait les concepts d’évocation, d’inférence, et de niveau de stimulation des consommateurs. Nous faisons l’hypothèse que le consommateur doit être suffisamment stimulé pour que le processus...

La crise mondiale et celle, plus récente, dans la zone euro ont eu tendance à raccourcir l’horizon prévisionnel et décisionnel de nombreux agents économiques. Dans le même temps, les incertitudes (sur l’emploi, les retraites…) poussent plutôt à la remontée du taux d’épargne des...

Is, or should, healthcare be profitable? Over and above “private” health, does it have an effect on public health? Improved living conditions are sometimes considered to play a more important role in greater life expectancy than medicine. Even though this may have been true in the 19th...

This paper examines the evolution of wealth distribution in France during the urbanization process of the nineteenth century, based on a comprehensive dataset of individual inheritances. It presents a spatial decomposition between rural and urban areas, distinguishing Paris from the rest of...

This paper analyses the impact of health, pension systems and longevity on savings. It uses a simple life-cycle model embodying social transfers (health care and pension expenditures) and changes in longevity to determine the level of household savings. From this model, we derived an econometric...