In this paper, we model an overlapping generation economy affected by an unexpected immigration shock and determine how households may insure themselves against “immigration risk”. We use the model to study the impact of immigration on (i) the welfare of different generations, (ii) the...

Active ageing policies, together with health-related technological advances and improving living conditions have led to increased life expectancy for the EU’s elderly population. Furthermore, there is a great deal of variation in the way that healthcare services are provided and funded across...

This paper considers the integration of economies as a merger of populations. The premise is that the merger of groups of people alters their social landscape and their comparators. The paper identifies the effect of the merger on aggregate distress. A merger is shown to increase aggregate...

Social policies are defined as the amount of principles, values and customs which dominates over the social relationship among persons, communities and institutions and signifies state’s measures and actions transposed and within strategies, programs, projects, institutions and legislation....

This paper try to realize an analysis of the public revenues and expenditures in Romania in the last few years tacking into account the economic crisis context. In this period public revenues have a different evolution characterized by decreasing of the most important tax revenues. Concerning...

The objective of this study is to provide some empirical evidences regarding the trends of inequality and social protection expenditures. We are involving a small sample of 27 countries (EU27) for an observation time span between 2005 and 2009. The GINI coefficient and the expenditure per...

For a sample of 29 European countries, the efficiency of social protection public expenditures in providing income support and diminishing income inequality is assessed in a panel framework. An increase in the size of the government intervention through social protection public expenditure is...

The present paper quantitatively characterizes the consequences of rising pension progressivity in an overlapping generations model with idiosyncratic income, disability and longevity risk as well as endogenous labor supply at the intensive and extensive margin. Focusing on the German pension...

We use recently collected retrospective survey data to estimate the displacement effect of pension wealth on household savings. The third wave of the Survey of Health, Ageing and Retirement in Europe, SHARELIFE, collects information on the entire job history of the respondent, a feature missing...

We are well aware that, sooner or later, we will have to wear the “coat” of old age. Whether old age will be burdensome or not, or whether we will have bigger or smaller “pockets”, it is certain that we will have to wear this “coat”, even with dignity and pride. This imposes a...