| Autor: |
Lilia Cavallari, Flavio Padrini, Nicola Carmine Salerno, Lorenzo Toffoli |
| Přispěvatelé: |
Cavallari, Lilia, Padrini, Flavio, Carmine Salerno, Nicola, Toffoli, Lorenzo |
| Jazyk: |
angličtina |
| Rok vydání: |
2022 |
| Předmět: |
|
| Popis: |
This paper analyzes the impact of the demographic transition on welfare expenditures and the sustainability of public finances. A comparison among different projections reveals that welfare expenditure is expected to grow substantially in the coming decades, both in absolute and as a percentage of GDP. It is expected to return to values comparable to current levels only in the very long run, albeit with a much older population. Based on indicators of sustainability incorporating these projections, we argue that a remarkable consolidation effort would be required to reach a plausible debt target, especially under the latest projections. A less demanding yet still significant effort is required to ensure solvency in the long run. |
| Databáze: |
OpenAIRE |
| Externí odkaz: |
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