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Public debt and demography. An analysis of the Italian case

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  • Schilirò, Daniele

Abstract

This paper focuses on the challenges posed by high public debt and demographic decline in Italy. The interplay between these two factors threatens debt sustainability and hinders economic growth. A large debt stock constrains economic policy choices and limits national sovereignty. Meanwhile, population decline affects public spending and tends to exacerbate public debt, further complicating its sustainability. Possible policy options to counterbalance this issue include immigration, increasing labor force participation, pension reforms, fiscal consolidation, and investment in education targeted at the young population.

Suggested Citation

  • Schilirò, Daniele, 2024. "Public debt and demography. An analysis of the Italian case," MPRA Paper 121958, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:121958
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    File URL: https://mpra.ub.uni-muenchen.de/121958/1/MPRA_paper_121958.pdf
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    References listed on IDEAS

    as
    1. Francesco Giavazzi & Guido Tabellini, 2020. "Covid Perpetual Eurobonds: Jointly guaranteed and supported by the ECB," Vox eBook Chapters, in: AgneÌ€s BeÌ nassy-QueÌ reÌ & Beatrice Weder di Mauro (ed.), Europe in the Time of Covid-19, edition 1, volume 1, chapter 1, pages 235-239, Centre for Economic Policy Research.
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    More about this item

    Keywords

    public debt; demography; declining population; sustainable debt; growth; immigration;
    All these keywords.

    JEL classification:

    • F3 - International Economics - - International Finance
    • H60 - Public Economics - - National Budget, Deficit, and Debt - - - General
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
    • J0 - Labor and Demographic Economics - - General
    • J2 - Labor and Demographic Economics - - Demand and Supply of Labor
    • J6 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • O5 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies

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