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...

In Japan, intergenerational inequality in lifetime resources is substantial, with a heavier fiscal burden on the young than the old. Moreover, given the need for fiscal consolidation, the inequality is even worse than existing policy would suggest. However, this does not mean that fiscal...

Pension reform is high on the policy agenda of many advanced and emerging market economies. In advanced economies the challenge is generally to contain future increases in public pension spending as the population ages. In emerging market economies, the challenges are often different. Where...

This paper evaluates one of the most drastic reforms of the Japanese public health insurance started in year 2006, by numerically examining the reform in an aging Japan in a dynamic context with overlapping generations within a computable general equilibrium framework. Our simulation results are...

This article studies the determinants of the labor force participation of the elderly and investigates the factors that may account for the increase in retirement in the second half of the last century. We develop a life-cycle general equilibrium model with endogenous retirement that embeds...

The economic crisis has emphasised the fragility of the pension system in Romania. The ageing tendency of our country’s population completes the already bleak economic picture concerning the pension system. Romania’s situation is not unique, it is found in most developed European states, in...

This paper evaluates the drastic reforms of Japanese public health insurance initiated in 2006. We employ a computable general equilibrium framework to numerically examine the reforms for an aging Japan in the dynamic context of overlapping generations. Our simulation produced the following...

This paper explores the effect of different public pension schemes on economic welfare, and intergenerational and intragenerational equity. Besides the benchmark case based on the 2004 public pension reform, the paper considers two alternative cases: first, the financing of the basic pension...

<b>RESUMEN:</b><br> <br> En España, la intensidad del envejecimiento de la población difiere entre regiones. Las más envejecidas entre las que se encuentra la Comunidad de Castilla y León, deberían ser las más interesadas en desarrollar la normativa sobre dependencia.<br> En este trabajo analizamos el...

In this paper, we examine the demographic transition and its effect on economic growth using a cross-country data. We use a threshold regression model to verify the transition and to confirm whether the demographic transitions are compressed or not in developing countries. We found out that in...