Spesa pensionistica:quanto conta la crescita economica? (Paying for Pensions: How Important Is Economic Growth? )
This paper focuses on the scope for a higher level of output and faster productivity growth to ease future fiscal pressures stemming from demographic developments in OECD countries over the next fifty years. After concluding that, without substantial reforms, pressure on government spending linked...
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| Format: | Article |
| Language: | Italian |
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Associazione Economia civile
2012-04-01
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| Series: | Moneta e Credito |
| Subjects: | |
| Online Access: | https://rosa.uniroma1.it/rosa04/moneta_e_credito/article/view/9776 |
| _version_ | 1811172817298784256 |
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| author | Ignazio Visco |
| author_facet | Ignazio Visco |
| author_sort | Ignazio Visco |
| collection | DOAJ |
| description |
This paper focuses on the scope for a higher level of output and faster productivity growth to ease future fiscal pressures stemming from demographic developments in OECD countries over the next fifty years. After concluding that, without substantial reforms, pressure on government spending linked to ageing populations (both on pensions and health expenditures), will in general result in significant increases in expenditures to GDP ratios, the paper examines how these pressures might be redressed. Responses which focus on achieving an increase in the average number of years individuals spend active in the labour force and raising the level as well as widening the sources of individual provision of retirement income are recommended. Increasing output (through lower structural unemployment and higher female and elderly workers' participation rates) and its rate of growth (through gains in productivity) are seen as offering a complementary, though limited, response.
JEL Codes: H55, O40, J14, J11, J26
Keywords: Ageing, Demographics, Expenditure, Growth, Pension, Population
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| first_indexed | 2024-04-10T17:36:43Z |
| format | Article |
| id | doaj.art-5fe6bbebce8a431aad5a0138e4909f62 |
| institution | Directory Open Access Journal |
| issn | 2037-3651 |
| language | Italian |
| last_indexed | 2024-04-10T17:36:43Z |
| publishDate | 2012-04-01 |
| publisher | Associazione Economia civile |
| record_format | Article |
| series | Moneta e Credito |
| spelling | doaj.art-5fe6bbebce8a431aad5a0138e4909f622023-02-03T16:36:16ZitaAssociazione Economia civileMoneta e Credito2037-36512012-04-015421510.13133/2037-3651/9776Spesa pensionistica:quanto conta la crescita economica? (Paying for Pensions: How Important Is Economic Growth? )Ignazio Visco This paper focuses on the scope for a higher level of output and faster productivity growth to ease future fiscal pressures stemming from demographic developments in OECD countries over the next fifty years. After concluding that, without substantial reforms, pressure on government spending linked to ageing populations (both on pensions and health expenditures), will in general result in significant increases in expenditures to GDP ratios, the paper examines how these pressures might be redressed. Responses which focus on achieving an increase in the average number of years individuals spend active in the labour force and raising the level as well as widening the sources of individual provision of retirement income are recommended. Increasing output (through lower structural unemployment and higher female and elderly workers' participation rates) and its rate of growth (through gains in productivity) are seen as offering a complementary, though limited, response. JEL Codes: H55, O40, J14, J11, J26 Keywords: Ageing, Demographics, Expenditure, Growth, Pension, Population https://rosa.uniroma1.it/rosa04/moneta_e_credito/article/view/9776AgeingDemographicsExpenditureGrowthPensionPopulation |
| spellingShingle | Ignazio Visco Spesa pensionistica:quanto conta la crescita economica? (Paying for Pensions: How Important Is Economic Growth? ) Moneta e Credito Ageing Demographics Expenditure Growth Pension Population |
| title | Spesa pensionistica:quanto conta la crescita economica? (Paying for Pensions: How Important Is Economic Growth? ) |
| title_full | Spesa pensionistica:quanto conta la crescita economica? (Paying for Pensions: How Important Is Economic Growth? ) |
| title_fullStr | Spesa pensionistica:quanto conta la crescita economica? (Paying for Pensions: How Important Is Economic Growth? ) |
| title_full_unstemmed | Spesa pensionistica:quanto conta la crescita economica? (Paying for Pensions: How Important Is Economic Growth? ) |
| title_short | Spesa pensionistica:quanto conta la crescita economica? (Paying for Pensions: How Important Is Economic Growth? ) |
| title_sort | spesa pensionistica quanto conta la crescita economica paying for pensions how important is economic growth |
| topic | Ageing Demographics Expenditure Growth Pension Population |
| url | https://rosa.uniroma1.it/rosa04/moneta_e_credito/article/view/9776 |
| work_keys_str_mv | AT ignaziovisco spesapensionisticaquantocontalacrescitaeconomicapayingforpensionshowimportantiseconomicgrowth |