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- W2751796042 abstract "The ability of countries to preserve the current fiscal policywithout running into solvency problems and possible defaulthas become a great concern for many industrialized countries,which experienced significant increases in their nationaldebt levels during the aftermath of the economic and financialcrisis. Sustainable public finances and lower public debtburdens are important elements to ensure that countries arestrong enough to cope with adverse macroeconomic contextsand projected implicit liabilities related to aging, i.e. pension,health care, and long-term care expenditures.The aim of this thesis is to provide different perspectives onthe study of pension systems and fiscal sustainability. Inthe first chapter, we estimate the impact of immigration onthe sustainability of Italian public finances using the methodologyof Generational Accounting, showing that the burdenof current fiscal policy reduces as integration of the foreignbornincreases. In the second chapter, we investigate how uncertaintyregarding future mortality and life expectancy outcomeshave affected the Italian public pension budget, revealinga consistent underestimation of actual life spans whenforecasts are based on expectations. Finally, in the third chapter,we analyze in a general equilibrium framework labor marketdistortions and capital accumulation arising within differentpension systems to highlight the importance of guaranteeingboth financial viability and retirement income adequacy." @default.
- W2751796042 created "2017-09-15" @default.
- W2751796042 creator A5091441661 @default.
- W2751796042 date "2017-03-01" @default.
- W2751796042 modified "2023-09-23" @default.
- W2751796042 title "Three Essays on Pension Systems and Fiscal Sustainability" @default.
- W2751796042 hasPublicationYear "2017" @default.
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