?url_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Adc&rft.relation=http%3A%2F%2Feprints.imtlucca.it%2F3628%2F&rft.title=The+potential+costs+of+Longevity+Risk+on+Public+Pensions.+Evidence+from+Italian+data&rft.creator=Frassi%2C+Benedetta&rft.creator=Pammolli%2C+Fabio&rft.creator=Regis%2C+Luca&rft.subject=DG+Italy&rft.subject=HB+Economic+Theory&rft.description=In+this+article%2C+we+assess%2C+through+an+empirical+investigation+based+on+Italian+data%2C+how%0D%0Auncertainty+regarding+future+mortality+may+affect+public+pension+expenditure.+Based%0D%0Aon+a+representative+sample+of+Italian+pensioners+from+1985+to+2011%2C+we+find+a+consistent%0D%0Aunderestimation+of+improvements+seen+in+mortality+and+life+expectancy+when+forecasts%0D%0Aare+based+on+expectations.+The+pension+expenditure+estimated+using+realized+mortality%0D%0Arates+is+shown+to+be+consistently+higher+than+that+obtained+by+using+average+forecasted%0D%0Ascenarios%2C+produced+with+well-known+stochastic+mortality+models.+The+paper+highlights%0D%0Athe+importance+of+considering+the+uncertainty+regarding+future+pension+benfits%2C+i.e.+of%0D%0Aevaluating+and+managing+the+longevity+risk+in+public+pension+plans.&rft.publisher=IMT+School+for+Advanced+Studies+Lucca&rft.date=2017-01&rft.type=Working+Paper&rft.type=NonPeerReviewed&rft.format=application%2Fpdf&rft.language=en&rft.rights=cc_by_nd&rft.identifier=http%3A%2F%2Feprints.imtlucca.it%2F3628%2F1%2FEIC_WP_1_2017.pdf&rft.identifier=++Frassi%2C+Benedetta+and+Pammolli%2C+Fabio+and+Regis%2C+Luca++The+potential+costs+of+Longevity+Risk+on+Public+Pensions.+Evidence+from+Italian+data.++EIC+working+paper+series++%231%2F2017++++IMT+School+for+Advanced+Studies+Lucca++++ISSN+2279-6894.++++++