Challenges for European welfare states
In the absence of social security reform, current pension entitlements of an aging population exceed future fiscal capacity. However, structural labor market reforms facilitate the transition to sustainable schemes in which a sizeable part of the current generosity of European welfare states can be...
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| Veröffentlicht in: | International tax and public finance 2015-08, Vol.22 (4), p.534-548 |
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| container_title | International tax and public finance |
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| creator | Börsch-Supan, Axel H. |
| description | In the absence of social security reform, current pension entitlements of an aging population exceed future fiscal capacity. However, structural labor market reforms facilitate the transition to sustainable schemes in which a sizeable part of the current generosity of European welfare states can be maintained. In fact, many European states have already taken important steps in this direction. In the end insufficient productive capacities to support the welfare state pose smaller challenges to reform than do time inconsistencies built into the political process of redesigning pension plans. |
| doi_str_mv | 10.1007/s10797-015-9372-1 |
| format | Article |
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| ispartof | International tax and public finance, 2015-08, Vol.22 (4), p.534-548 |
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| language | eng |
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| source | Springer Nature - Complete Springer Journals |
| subjects | Adaptation Age Aging Business Taxation/Tax Law Consumption Demography Economic growth Economics Economics and Finance Foreign investment GDP Gross Domestic Product Growth rate Interest rates Labor market Labor productivity Pension plans Per capita Population Public Finance Retirement Retirement benefits Social policy Studies Welfare |
| title | Challenges for European welfare states |
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