"We address the issue of how early retirement may interact with limited use of financial markets in producing financial hardship later in life, when some risks (such as long-term care) are not insured. We argue that the presence of financially attractive early retirement schemes in a world of...

This paper uses the Survey of Health, Ageing and Wealth (SHAW) to study the relationship between health status and economic welfare at individual level. We develop a model to estimate the welfare cost of ill-health: the terminology and the intuition go along the lines of the equivalence scale...

This paper looks at the relationship between the institutional design of the social security system and retirement from the labour force in three countries: Italy, Spain and the USA. Our work stresses the importance of dynamic incentives embedded in social security systems throughout the world...

We study the labor market histories of overlapping generations of young Italian workers during the years 1974-1994. We find evidence that worker mobility is higher among younger cohorts, which suggests that the Italian labor market is becoming more “flexible”. We also find that workers in...

"Europe no longer suffers from Eurosclerosis; unemployment, notably long-term unemployment, had decreased substantially for more than a decade. Mobility across labour market states increased in those countries where unemployment has been falling the most. Institutional reforms -- such as...

In the Italian public debate growing attention has been recently paid to “household impoverishment”. Subjective indicators of economic condition show that this concern reflects a common sentiment of the Italian population. On the other hand, estimates based on the Bank of Italy’s Survey of...

type="main" xml:lang="en" <title type="main">SUMMARY</title> </section> <title type="main">European migration</title> <p> International migration can significantly increase income per capita in Europe. We estimate that at the given wage and productivity gap between Western and Eastern Europe, migration of 3% of the Eastern population to the West could increase...</p>