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Quantifying Impact of Aging Population on Fiscal Space [electronic resource] Park, Seok Gil.

Author/Creator:
Park, Seok Gil.
Publication:
Washington, D.C. : International Monetary Fund, 2012.
Format/Description:
Government document
Book
1 online resource (25 p.)
Series:
IMF eLibrary
IMF Working Papers; Working Paper No. 12/164.
IMF Working Papers; Working Paper No. 12/164
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Local subjects:
Aging. (search)
Aging population. (search)
Budget constraint. (search)
Demographic Trends and Forecasts. (search)
Dependency ratio. (search)
Economic models. (search)
Expenditure policy. (search)
Fiscal affairs. (search)
Fiscal affairs department. (search)
Fiscal balance. (search)
Fiscal deficit. (search)
Fiscal deficits. (search)
Fiscal impact. (search)
Fiscal limits. (search)
Fiscal policy. (search)
Fiscal space. (search)
Fiscal stress. (search)
Fiscal sustainability. (search)
General. (search)
Government budget. (search)
Government budget constraint. (search)
Government expenditure. (search)
Government revenue. (search)
Government spending. (search)
Group of seven. (search)
Labor force. (search)
Labor force participation. (search)
Labor income. (search)
Labor supply. (search)
Life expectancy. (search)
National accounts. (search)
Pension. (search)
Pension reform. (search)
Pension reforms. (search)
Public finance. (search)
Public pension. (search)
Public pension reforms. (search)
Retirement. (search)
Retirement age. (search)
Tax base. (search)
Tax bases. (search)
Tax rate. (search)
Tax rates. (search)
Tax revenue. (search)
Tax revenues. (search)
Taxable income. (search)
Taxation. (search)
France. (search)
Germany. (search)
Italy. (search)
Summary:
This paper quantitatively investigates how population aging trend affects fiscal space measured as unused revenue generating capacity by utilizing a standard neoclassical growth model. A calibration exercise for G-7 countries shows that France, Germany and Italy suffer greater revenue impact from a given reduction in hours worked due to their larger government expenditure. Corrective measures such as pension reform and flexible expenditure policy would be required in order to mitigate the impact of aging on fiscal space.
Notes:
Description based on print version record.
Contributor:
Park, Seok Gil.
Other format:
Print Version:
ISBN:
1475505124:
9781475505122
ISSN:
1018-5941
Publisher Number:
10.5089/9781475505122.001
Access Restriction:
Restricted for use by site license.