Social expenditure and demographic evolution: a dynamic approach.

PIP: "This paper provides an analysis of the impact of the population ageing on social expenditure.... A dynamic macrosimulation model...is applied to assess the impact of the ageing of the population on the Italian social security, health care and education systems. The main conclusions are that around 2030 social expenditure will reach a peak despite the 1995 reform of the pension system. A further cut in pension expenditure is therefore needed to [offset] the increase in the share of the retired as a proportion of the active population." (EXCERPT)^ieng