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An Analysis of U.S. Fiscal and Generational Imbalances; Who Will Pay and How?
Batini, Nicoletta; Guerreiro, Julia; Callegari, Giovanni - International Monetary Fund (IMF) - 2011
This paper updates existing measures of the U.S. fiscal gap to include federal laws up to and including the mid-December 2010 federal fiscal stimulus. It then applies the methodology of generational accounting to establish how the burden of adjustment required to attain fiscal sustainability is...
Persistent link: https://www.econbiz.de/10009019573
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Tax and Pension Reform in the Czech Republic-Implications for Growth and Debt Sustainability
Botman, Dennis P. J.; Tuladhar, Anita - International Monetary Fund (IMF) - 2008
The Czech Republic has embarked on an ambitious tax reform and expenditure package to bring the deficit sustainably below 3 percent, and intends to reduce the deficit to 1 percent of GDP by 2012. To address the long-term fiscal challenge due to population aging, pension reform proposals are also...
Persistent link: https://www.econbiz.de/10005263864
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Population Aging and Long-Term Fiscal Sustainability in Austria
Eskesen, Leif Lybecker - International Monetary Fund (IMF) - 2002
Austria faces significant population aging. This will increase public spending on pensions, health care, and long …-term care, while tax and social security revenues will fall. This paper analyzes the fiscal burden facing Austria due to aging … and the policy steps necessary to address it. The paper finds that Austria is not well prepared to meet the fiscal burden …
Persistent link: https://www.econbiz.de/10005263966
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Addressing Korea's Long-Term Fiscal Challenges
Syed, Murtaza H.; Skaarup, Michael; Feyzioglu, Tarhan - International Monetary Fund (IMF) - 2008
Korea is on the verge of an unprecedented demographic shift. In coming decades, rapid aging will transform it from one of the youngest populations in the OECD to among the oldest in record time. In turn, this shift will put tremendous pressure on the pension system and health and long-term care...
Persistent link: https://www.econbiz.de/10005825781
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The Role of Medium-Term Fiscal Frameworks for Transition Countries; The Case of Bulgaria
Horváth, Balázs; Székely, István P. - International Monetary Fund (IMF) - 2001
This paper discusses the foundations for a medium-term fiscal framework for Bulgaria, a transition economy aspiring to join the European Union. The paper argues that a well-designed framework can help to enhance the credibility of macroeconomic policies and facilitate preparations for EU...
Persistent link: https://www.econbiz.de/10005826341
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Ensuring Fiscal Sustainability in G-7 Countries
Leigh, Daniel; Hauner, David; Skaarup, Michael - International Monetary Fund (IMF) - 2007
Rising longevity, falling fertility rates, and the retirement of the baby boom generation will substantially raise age-related government spending in most advanced and many emerging market countries. This paper assesses the evolution of fiscal sustainability for each of the G-7 countries using...
Persistent link: https://www.econbiz.de/10005769069
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Quantifying Impact of Aging Population on Fiscal Space
Park, Seok Gil - International Monetary Fund (IMF) - 2012
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...
Persistent link: https://www.econbiz.de/10010790302
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Fiscal Policy Response to External Crises the Case of Moldova 1998-2010
Qehaja, Driton - International Monetary Fund (IMF) - 2012
External shocks pose major challenges to fiscal policy makers through lower output and large fiscal imbalances. This paper analyzes the case of Moldova, which faced parallel crises a decade apart: the Russian crisis of 1998 and the global financial crisis of 2008-2009. The country went through...
Persistent link: https://www.econbiz.de/10010790375
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A Status Updateon Fiscal Exit Strategies
International Monetary Fund (IMF); International … - 2010
With a modest recovery in the global economy underway, and amid rising concerns about the sharp increase in government debt in several countries, debate has increasingly focused on the need to identify and implement fiscal exit strategies. This paper reviews the medium-term plans of 25 countries...
Persistent link: https://www.econbiz.de/10008777011
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Some Uncomfortable Arithmetic Regarding Europe’s Public Finances
International Monetary Fund (IMF); International … - 2010
Traditional fiscal indicators focused on measures of current deficits and debt miss the potentially important implications of current policies for future public finances. This could be problematic, including in the case of Europe, where population aging is expected to pose additional fiscal...
Persistent link: https://www.econbiz.de/10008646429