On the one hand, recent research concerning Italy17 shows that the unexpected increase in the employment of mature workers that took place after changes in public pension rules in 2012 did not reduce employment in other age classes. On the other hand, a paper 18 to be presented tomorrow finds a negative impact of ageing on dynamism and growth.
Managing migration is the trickiest challenge of all. Good, dispassionate, data-based economic research may help set the stage for an informed public-policy debate. One paper that will be presented tomorrow 19 on the impact of the regularisation of undocumented migrants on the labour market in Spain is very much in this spirit and provides interesting, nuanced results.