López, GuillemMosterin, AnaUniversitat Pompeu Fabra. Departament d'Economia i Empresa2020-05-252020-05-252006-11-01Nota d'Economia n. 86, forthcominghttp://hdl.handle.net/10230/957The demographic shift underway in Southern Europe requires a revision of some of the fundamental principles of the traditional welfare state. We analyze the evolution of several aspects of welfare and social expenditure over the last two decades. We find that in the context of the present demographic changes and real estate boom current social and pension policy leads to a new distribution of benefits and burdens which is highly intergenerationally unequal. We argue for a revised definition of public policy based on Musgrave's proposition as a possible rule for an intergenerationally fair distribution.application/pdfengL'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commonsinfo:eu-repo/semantics/workingPaperelderlyyoungmusgraveintergenerational equitypensionssocial expenditurelife cycleincome distributionwelfare stateLabour, Public, Development and Health Economicsinfo:eu-repo/semantics/openAccess