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Transfers in an aging European Union

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  • Kluge, Fanny A.
  • Goldstein, Joshua R.
  • Vogt, Tobias C.

Abstract

Population aging and longevity can pose challenges to the sustainability of fiscal budgets. This is of particular concern in Europe’s rapidly aging welfare states offering generous social support programs for the elderly. Still, there are differences in the pace of ageing and the generosity of welfare states. We use public tax and benefit age schedules from the National Transfer Accounts project to estimate the impact of population aging on fiscal budgets of single countries and their implications for potential transfer flows in between European Union countries. We show the positive impact of changes in the economic life cycle by working longer and the impact of migration on the redistribution of transfers across Europe. We illustrate the crucial role that demography plays in deepening and reinforcing the fortunes of European finances.

Suggested Citation

  • Kluge, Fanny A. & Goldstein, Joshua R. & Vogt, Tobias C., 2019. "Transfers in an aging European Union," The Journal of the Economics of Ageing, Elsevier, vol. 13(C), pages 45-54.
    • Handle: RePEc:eee:joecag:v:13:y:2019:i:c:p:45-54
    DOI: 10.1016/j.jeoa.2018.07.004
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    Cited by:

    1. Ionel Muntele & Marinela Istrate & Alexandru Bănică & Raluca-Ioana Horea-Șerban, 2020. "Trends in Life Expectancy in Romania between 1990 and 2018. A Territorial Analysis of Its Determinants," Sustainability, MDPI, vol. 12(9), pages 1-17, May.
    2. Amalia Cristescu, 2019. "The Impact Of The Aging Population On The Sustainability Of Public Finances," Romanian Journal of Regional Science, Romanian Regional Science Association, vol. 13(2), pages 52-67, DECEMBER.
    3. Irena Antošová & Jana Stávková, 2019. "Application of the Institute of Income Redistribution in the Form of Social Transfers in EU Countries," DANUBE: Law and Economics Review, European Association Comenius - EACO, issue 2, pages 161-172, June.
    4. Kashnitsky, Ilya, 2020. "Changing regional inequalities in ageing across Europe," OSF Preprints 6m4kg, Center for Open Science.
    5. Valentin Marian Antohi & Romeo Victor Ionescu & Marius Sorin Dinca & Monica Laura Zlati & Costinela Fortea, 2023. "Dynamics of the Social Security Index in the Context of the Economic Crisis in Romania," Sustainability, MDPI, vol. 15(4), pages 1-17, February.

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