The volume collects the essays presented at the 14th Workshop on Public Finance organised by Banca d'Italia in Perugia from 29 to 31 March 2012. The workshop focused on the interaction between fiscal policy and growth and was organised in four sessions. The first session dealt with the...

Ensuring adequate living standards to a growing number of elderly while restraining the growth of pension spending represents the main challenge for pension policy in most countries. There is a need for an in-depth analysis of the economic conditions of the elderly which can help targeting...

Ensuring adequate living standards to a growing number of elderly while restraining the growth of pension spending represents the main challenge for Italian pension policy. There is a need for an in-depth analysis of the economic conditions of the elderly which in order to target resources to...

In the current debate on the European Union (EU) fiscal rules there is a widespread consensus on the need to place more focus on government debt and long-term fiscal sustainability in the surveillance of budgetary positions. More specifically, pension developments should be taken into account in...

The 2005 reform of the Stability and Growth Pact has amplified the role of government debt and long-term fiscal sustainability in the surveillance of budgetary positions in the European Union (EU). Some aspects of the reform are still to be fully defined, including the role of implicit...

Long-term projections of pension expenditure are essential to evaluate the sustainability of social policies and potential reforms. The paper examines the main projections made in Italy and highlights the progress made and the problems remaining. It argues that forecasts played an important role...