We stress that the demographic changes that Europe will face in the coming decades will have profound consequences not only for the sustainability but also for the adequacy of social security schemes, including pensions. Our paper aims at assessing the consequences of the Ageing Working Group...

This paper starts by describing the model MIDAS in detail. It next presents and discusses some simulation results for Belgium, Germany and Italy. Finally, the simulation results of two alternative policy scenarios are presented and discussed

The majority of studies of the returns to human capital investment have generally considered the relationship among wages and individuals' investment in education. However, among factors which increase individuals' stocks of human capital and affect their labour market performances, there are...