Pension Systems, Ageing and the Stability and Growth Pact

Roel Beetsma and Heikki Oksanen

No 289, European Economy - Economic Papers 2008 - 2015 from Directorate General Economic and Financial Affairs (DG ECFIN), European Commission

Abstract: This paper explores how the Stability and Growth Pact may cope with the future costs of population ageing in the European Union. Clearly, population ageing has forced countries to reform their pension systems, and will continue to do so, both by reducing the generosity of pension arrangements and by switching to funding rather than relying on pure pay-as-you go pension provision. We study how such reforms affect the room for adhering to the Pact, but also how the Pact may induce or hamper the incentives for reform. In our analysis we will draw on recent literature on the Pact and on the pensions and the ageing problem. We will also calibrate a simple model for addressing intergenerational equity. Keywords: Public pensions, population ageing, government budget deficit and debt, European Union Stability and Growth Pact.

Keywords: Public pensions; population ageing; government budget deficit and debt; European Union Stability and Growth Pact; Beetsma; Oksanen (search for similar items in EconPapers)
JEL-codes: H11 H55 H6 (search for similar items in EconPapers)
Pages: 66 pages
Date: 2007-10
References: Add references at CitEc
Citations: View citations in EconPapers (13)

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Related works:
Working Paper: Pension Systems, Ageing and the Stability and Growth Pact (2007)
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Persistent link: https://EconPapers.repec.org/RePEc:euf:ecopap:0289

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