IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this article

Ageing and the Skew Risk in Collective Choices

Listed author(s):
  • Vincenzo Galasso

Oecd countries enjoy a complex system of welfare programs and regulations, which provides redistributive transfers across different generations. Yet, their design and dimensions largely differ. How will these different models react to the aging process? Aging reduces the return from payg pension systems, but increases the political power of the elderly. The overall effect on the policy-maker decisions is likely to lead to more overall pension spending, although pension per capita may have to be reduced and workers will have to retire later. Yet, the impact on the state regulation of the economy should not be overlooked. An increasing share of elderly individuals will increase the pressure for product market reforms, which lead to lower prices, and thereby to an increase in the purchasing power of their pension transfer. No effect of aging can be instead appreciated on labor market reforms. These suggest that the Southern European system based on large pension spending and rigid labor and product markets is less suited to deal with population aging.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL:
Download Restriction: free

File URL:
Download Restriction: free

Article provided by Presses de Sciences-Po in its journal Revue économique.

Volume (Year): 59 (2008)
Issue (Month): 5 ()
Pages: 1023-1043

in new window

Handle: RePEc:cai:recosp:reco_595_1023
Contact details of provider: Web page:

No references listed on IDEAS
You can help add them by filling out this form.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:cai:recosp:reco_595_1023. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jean-Baptiste de Vathaire)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.