Traditional fiscal indicators focused on measures of current deficits and debt miss the potentially important implications of current policies for future public finances. This could be problematic, including in the case of Europe, where population aging is expected to pose additional fiscal...

This study offers a broad view of the academic literature that deals with the effects of immigration on the sustainability of defined benefit PAYG social security systems. It is usually argued that a selective increase in the population helps towards the financial equilibrium of the system in...

This article analyses the reforms in the pension scheme in Albania during the transition period. An analysis of changes experienced by the performance of the social insurance scheme reveals that, so far, the system is almost entirely dominated by the public scheme “pay as you go”, which for...

Increasing life expectancy in South Asia is resulting in a demographic transition that can, under the right circumstances, yield dividends through more favorable dependency ratios for a time. With aging, the disease burden shifts toward noncommunicable diseases (NCDs)1 which can threaten healthy...

The paper explores the macroeconomic effects of three public pension reforms, namely an increase in retirement age, a reduction in benefits and an increase in contribution rates. Using a five-region version of the IMF‘s Global Integrated Monetary and Fiscal model (GIMF), we find that...

Many public pension systems worldwide are experiencing difficult economic period as its economy is in the period of financial crisis which affected to the social budget sustainability. Population aging and last decade economic circumstances are the factors the pension systems should overcome for...

This paper documents the paradoxical short-term effects of training and job programmes implemented by oil companies in the region of Onelga, Rivers State (Nigeria). We use two multidimensional indexes as dependent variables: the UNDP's Multidimensional Poverty Index (MPI) and a ‘Relational...

Except for specialized resource economics models, economics pays little attention to the role of energy in growth. This paper highlights basic difficulties behind the mainstream analytical arguments for this neglect, and provides an empirical reassessment of this role. We use an error correction...

The demographic database of Eurostat and of Us Census of Bureau are explored and the main facts are extracted and described. This paper is completely self-standing but is also part of a more general analysis dedicated to the functioning and sustainability of pay-as-you-go to finance the welfare...

The circular interplay between demography-employment-productivity-PayGo is investigated for Italy and Italian geographical repartitions. Looking forward to the mid-long run, the paper offers simulations of the burden each effective worker and each active citizen will have to bear to finance via...