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EUROPOP2023 demographic trends and their euro area economic implications

Author

Listed:
  • Freier, Maximilian
  • Schroth, Joachim
  • Lichtenauer, Benoit

Abstract

The euro area’s population is projected to continue ageing and to shrink significantly over the coming generations. The coronavirus (COVID-19) pandemic and the influx of migrants are leaving a mark on the short and medium-term demographic outlook for the euro area compared with the 2019 population projections. This box shows that the resulting demographic outlook is expected to have some positive impact on the growth outlook and to ease the cost-of-ageing pressures on public finances. Overall, however, demographic trends continue to pose significant challenges to the euro area economy, and these challenges should be addressed in a timely manner. JEL Classification: R23, E24, H50

Suggested Citation

  • Freier, Maximilian & Schroth, Joachim & Lichtenauer, Benoit, 2023. "EUROPOP2023 demographic trends and their euro area economic implications," Economic Bulletin Boxes, European Central Bank, vol. 3.
    • Handle: RePEc:ecb:ecbbox:2023:0003:8
    Note: 3510124
    as

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    File URL: https://www.ecb.europa.eu//pub/economic-bulletin/focus/2023/html/ecb.ebbox202303_08~47bea3ce51.en.html
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    More about this item

    Keywords

    fiscal; population projections; productivity;
    All these keywords.

    JEL classification:

    • R23 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Regional Migration; Regional Labor Markets; Population
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • H50 - Public Economics - - National Government Expenditures and Related Policies - - - General

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