Long-term labour productivity and GDP projections for the EU25 Member States : a production function framework

This paper presents the results of long run labour productivity and GDP growth rate projections (until 2050) for each of the 25 EU Member States and provides a detailed overview of the forecast methodology used. These projections were undertaken in order to provide an internationally comparable macroeconomic framework against which to assess the potential economic and fiscal effects of ageing populations. This assessment was carried out as part of the work undertaken by the EU's Economic Policy Committee, in its Ageing Working Group, to project the public expenditure implications of ageing on pensions, health care, long-term care, unemployment insurance and education.