We explore the underlying determinants of the macroeconomic effects of fiscal policy and tax and social security reform … and small economy, are examined: the effects of changes in government debt; higher government spending; tax reform; and … privatization of retirement savings. …

The Czech Republic has embarked on an ambitious tax reform and expenditure package to bring the deficit sustainably … due to population aging, pension reform proposals are also being considered. In this paper we assess the macroeconomic … effects of these measures using the Global Fiscal Model. The tax reform package will achieve a more efficient tax system. If …

We use the IMF's Global Fiscal Model to evaluate recent proposals to reform social security and the tax system in the … income is beneficial, but only if the reform is revenue neutral. Debtneutral social security and tax reform in the United …

reform will improve the long-term debt path but achieving fiscal sustainability requires further adjustment over the medium … term. An additional package of expenditure restraint, entitlement reform, and tax-base broadening compares favorably to …

. Finally, we show that tax reform aimed at increasing incentives to save could provide support to fiscal consolidation measures. …

of alternative fiscal adjustment and structural reform strategies to address these global aging pressures using the IMF …

-term benefits compared with less front-loaded strategies; (iv) tax reform involving shifting from corporate taxation to consumption …