CORDIS Project
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RESTATE aims to redesign welfare systems to balance economic sustainability and political viability in the face of demographic changes. It explores intergenerational redistribution and the management of public debt, providing insights for fiscal authorities to navigate the complexities of welfare state design.
Initially intended to shield individuals from adverse macroeconomic shocks, welfare programs such as social security have grown significantly over time, evolving into politically entrenched entitlements.
Demographic changes, including declining fertility rates and increasing life expectancy, have further fueled their expansion, raising fiscal pressure.
While retrenchment reforms are recognized as essential for economic sustainability, strong public support for welfare programs often renders them…
UNIVERSITA DEGLI STUDI DI PADOVA
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