The population in OECD countries is ageing rapidly, which will have significant macroeconomic impacts, including on public expenditure and tax revenues. This paper analyses the consequences of population ageing at the sub-central government (SCG) levels and introduces the ‘SCG fiscal...

This paper elucidates public finance on the coopetition model of fiscal policy. The mix of competition and cooperation finds the relation between democracy and market. The conjunction of democracy and market is society and its demography. This paper focuses on the field of public economics where...

The euro area, like many other advanced economies, has entered an era of drastic demographic change. Without appropriate policy responses, population ageing in the euro area is posing formidable challenges for potential growth, monetary policy and public finances. This paper examines – from a...

The author describes Japan's current fiscal position and recent actions taken toward fiscal consolidation and also discusses long-term fiscal projections and various issues concerning fiscal sustainability. The paper applies the European Commission's sustainability assessment methodology to the...

Um den nachfolgenden Generationen ein funktionsfähiges Staatswesen übergeben zu können, ist eine Konsolidierung der öffentlichen Finanzen unumgänglich. Zu diesem Ergebnis kamen die Teilnehmer der Konferenz von Bertelsmann Stiftung, ifo Institut und International Monetary Fund im November...