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Fiscal sustainability and policy implications for the euro area
Balassone, Fabrizio; Cunha, Jorge Correia da; Langenus, … - 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/10003826581
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Pensions and household savings : cross-country heterogeneity in Europe
D'Addio, Anna Cristina; Roger, Muriel; Savignac, … - 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/10012156487
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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; Scheubel, Beatrice - 2014
Persistent link: https://www.econbiz.de/10010441086
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Aging and pension reform : extending the retirement age and human capital formation
Vogel, Edgar; Ludwig, Alexander; Börsch-Supan, Axel - 2012
Persistent link: https://www.econbiz.de/10009765964
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A framework for assessing the costs of pension reform reversals
Baksa, Daniel; Munkacsi, Zsuzsa; Nerlich, Carolin - 2020
previously to improve sustainability. In this paper we present a framework that allows us to quantify the macroeconomic and … costs and could pose challenges for fiscal sustainability. …
Persistent link: https://www.econbiz.de/10012206290
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Demographics and inflation in the euro area : a two-sector new Keynesian perspective
Lis, Eliza Magdalena; Nickel, Christiane; Papetti, Andrea - 2020
Can the aging process affect inflation? The prolonged decline of fertility and mortality rates induces a persistent downward pressure on the natural interest rate. If this development is not internalized by the monetary policy rule, inflation can be on a downward trend. Using the structure of a...
Persistent link: https://www.econbiz.de/10012181303
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Demographics and the natural real interest rate : historical and projected paths for the euro area
Papetti, Andrea - 2019
This paper employs an aggregate representation of an overlapping generation (OLG) model quantifying a decrease of the natural real interest rate in the range of -1.7 and -0.4 percentage points in the euro area between 1990 and 2030 due to demographics alone. Two channels contribute to this...
Persistent link: https://www.econbiz.de/10011994650
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The impact of extreme weather events on budget balances and implications for fiscal policy
Lis, Eliza M.; Nickel, Christiane - 2009
sustainability ; disasters …
Persistent link: https://www.econbiz.de/10003866542
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3-step analysis of public finances sustainability : the case of the European Union
Afonso, António (contributor);  … - 2008
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/10003782655
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European firm adjustment during times of economic crisis
Fabiani, Silvia; Lamo, Ana; Messina, Julián; Room, Tairi - 2015
Persistent link: https://www.econbiz.de/10010516534