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Working Papers


Elena Capatina

Approximately one in four workers aged 25-40 who lacked private health insurance in 2010 in the US did not enroll in employer-provided health insurance (EPHI) that was available to them.

Fiscal growth

Christine Ma and Chung Tran

To what extent does population ageing limit fiscal capacity and affect fiscal sustainability? We answer this question through lens of fiscal space defined by budgetary room between the current tax revenue and the peak of Laffer curves.


George Kudrna and Chung Tran

In this study, we quantify the macroeconomic and welfare effects of alternative fiscal consolidation plans in the context of a small open economy.

Healthy elderly couple

Rafal Chomik

There is a growing recognition that social security systems with a wide scope and comprehensive coverage are an essential part of sustainable development and an ambition worth pursuing vigorously. 

Elderly friends

Jennifer Alonso-Garcia, Maria del Carmen Boado-Penas and Pierre Devolder

There are three main challenges facing public pension systems.


Jennifer Alonso-García and Beatriz Rosado-Cebrián

The recent global financial crisis has intensified the public debate on the sustainability of pay-as-you-go pension schemes.


Peter McDonald

Migration is one of the three demographic processes that contribute to changes in the size of a population, the other two being fertility and mortality.

Colleagues collaborating

Ermanno Pitacco

This paper provides some introductory remarks to critical biometric aspects underlying risk identification and risk assessment for life annuity portfolios and pension funds.

Women discussing financial data

Juergen Jung, Chung Tran and Matthew Chambers

We quantify the effects of population aging on the US healthcare system. Our analysis is based on a stochastic general equilibrium overlapping generations model of endogenous health accumulation calibrated to match pre-2010 U.S. data.