M. Sánchez-Romero, Gemma Abio, Montserrat Botey, A. Prskawetz, Jože Sambt, Meritxell Solé Juvés, Guadalupe Souto, Lili Vargha, Concepció Patxot
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引用次数: 2
Abstract
In this paper, we analyse the impact of population ageing on the sustainability and the intergenerational fairness of public fiscal policy in three selected European countries (Austria, France, and Spain). We use NTA and NTTA data, and introduce these data into a large-scale general equilibrium OLG model with realistic assumptions regarding demographic trends and changes in population structure. The results for sustainability show a sharp increase in the share of public expenditure to GDP for the main programmes of the welfare state. In the three countries analysed, public policies (e.g. education, health care, and pension benefits) redistribute income from younger individuals to older individuals. Our findings indicate that these policies redistribute more resources to older individuals in Spain and fewer resources to older individuals in Austria. We consider the effects of several reform scenarios, including simulations in which the statutory retirement age is raised and the tax base for financing health care expenditures are changed. We also describe the consequences of the population having a fixed level of educational attainment.
期刊介绍:
In Europe there is currently an increasing public awareness of the importance that demographic trends have in reshaping our societies. Concerns about possible negative consequences of population aging seem to be the major force behind this new interest in demographic research. Demographers have been pointing out the fundamental change in the age composition of European populations and its potentially serious implications for social security schemes for more than two decades but it is only now that the expected retirement of the baby boom generation has come close enough in time to appear on the radar screen of social security planners and political decision makers to be considered a real challenge and not just an academic exercise.