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Challenges for European welfare states

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  • Axel Börsch-Supan

Abstract

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. Copyright Springer Science+Business Media New York 2015

Suggested Citation

  • Axel Börsch-Supan, 2015. "Challenges for European welfare states," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 22(4), pages 534-548, August.
    • Handle: RePEc:kap:itaxpf:v:22:y:2015:i:4:p:534-548
    DOI: 10.1007/s10797-015-9372-1
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    References listed on IDEAS

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    More about this item

    Keywords

    European welfare states; Pension reform; population aging; H55; I00; J10; J26;
    All these keywords.

    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • I00 - Health, Education, and Welfare - - General - - - General
    • J10 - Labor and Demographic Economics - - Demographic Economics - - - General
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies

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