Exploring the economic consequences of demographic changes is often carried out within simple accounting frameworks. Such approaches consist of projecting the impact of ageing on social security expenditures under exogenous assumptions about economic growth, productivity, wages and employment....

This paper describes a small macro-model for the euro area. It has been built using Eurostat quarterly data and is aimed at improving the current tools used for forecasting and analysing the economy of the area. Some key data, such as capital stock or households disposable income, have been...

In the past twenty years, household wealth undergoes profound changes and in particular a notable increase of the share of financial wealth. The hike of stock market prices in the late 1990s, the burst of the speculative bubble since the summer of 2000 and the continued upsurge of housing prices...

In France, government debt steadily rose from just below 20% of GDP in 1980 to more than 60% today. This raises concerns about the sustainability of public finances i.e. whether the government's intertemporal budget constraint can be satisfied without a major change in fiscal policy practices...