Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

A number of uncertainties about long-term expenditure commitments in industrial countries are examined: (i) the assumptions underlying the projections, (ii) the potential to further reduce non-age-related expenditures, (iii) the implicitly assumed absence of "shocks," and (iv) the potential for raising revenue. This paper concludes that (i) there is scope, but within narrow limits, to reduce non-age-related expenditures; (ii) fiscal policy frameworks tend to understate risks; and (iii) prevailing tax rates leave little room for increasing taxation in the countries facing the strongest aging pressures. In sum, governments will have to adopt a much more ambitious fiscal policy stance to cope with aging populations.

Electronic books. -- local. --- Expenditures, Public. --- Fiscal policy. --- Investments: General --- Public Finance --- Demography --- National Government Expenditures and Related Policies: General --- Economics of the Elderly --- Economics of the Handicapped --- Non-labor Market Discrimination --- Fiscal Policy --- Investment --- Capital --- Intangible Capital --- Capacity --- Public finance & taxation --- Population & demography --- Macroeconomics --- Expenditure --- Aging --- Total expenditures --- Fiscal policy --- Gross fixed investment --- Expenditures, Public --- Population aging --- Saving and investment --- United States

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

This Selected Issues paper analyzes the effect of international migration on unemployment in New Zealand. The empirical results in this paper suggest that net migration inflows give rise to a fall in the unemployment rate. The paper estimates a system of equations including the unemployment rate, real wage, net migration rate, and labor force participation rate, taking into account the interdependence of the variables. It also examines the impact of exchange rate volatility on export firms’ decisions to hedge foreign exchange exposure.

Foreign Exchange --- Labor --- Macroeconomics --- Demography --- Emigration and Immigration --- Economics of the Elderly --- Economics of the Handicapped --- Non-labor Market Discrimination --- International Migration --- Macroeconomics: Consumption --- Saving --- Wealth --- Labor Economics: General --- Labour --- income economics --- Currency --- Foreign exchange --- Population & demography --- Migration, immigration & emigration --- Aging --- Exchange rates --- Migration --- Consumption --- Population and demographics --- National accounts --- Population aging --- Emigration and immigration --- Labor market --- Economics --- New Zealand

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

Projections of age-related public expenditure growth have raised widespread concerns about fiscal sustainability. This paper examines how total expenditure would develop under four policy rules on public expenditure growth. Some simple arithmetic of expenditure, GDP, and population is reviewed and applied in simulations for 19 member countries of the Organization for Economic Cooperation and Development (OECD) over 2000-50. A general and a specific conclusion arise from the results in this paper: Generally, long-term expenditure projections could benefit from revisiting common assumptions on non-agerelated expenditure growth. Specifically, under realistic assumptions, the belt-tightening required to maintain fiscal sustainability under age-related spending pressures could be less painful than commonly thought.

Aging -- OECD countries. --- Electronic books. -- local. --- Expenditures, Public -- OECD countries. --- Fiscal policy -- OECD countries. --- Macroeconomics --- Public Finance --- Demography --- National Government Expenditures and Related Policies: General --- Demographic Trends, Macroeconomic Effects, and Forecasts --- Fiscal Policy --- Economics of the Elderly --- Economics of the Handicapped --- Non-labor Market Discrimination --- Public finance & taxation --- Population & migration geography --- Population & demography --- Expenditure --- Total expenditures --- Population growth --- Fiscal sustainability --- Aging --- Expenditures, Public --- Population --- Fiscal policy --- Population aging --- Korea, Republic of

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

The Selected Issues paper on Finland underlies public finances and structural reform. The structural reforms encompassing labor and product markets as well the pension system would substantially improve the outlook for fiscal sustainability. Reductions in labor and product market inefficiencies is estimated, on the basis of a staff computable general equilibrium model, to raise output and employment significantly while reducing the price level. Additional pension reforms could further increase employment, boost economic growth, and improve public finances, as could improved expenditure efficiency, thereby creating room for further reductions in labor income taxation.

Finance: General --- Labor --- Demography --- Demand and Supply of Labor: General --- General Financial Markets: General (includes Measurement and Data) --- Economics of the Elderly --- Economics of the Handicapped --- Non-labor Market Discrimination --- Employment --- Unemployment --- Wages --- Intergenerational Income Distribution --- Aggregate Human Capital --- Aggregate Labor Productivity --- Labor Economics Policies --- Labour --- income economics --- Finance --- Population & demography --- Labor markets --- Commodity markets --- Aging --- Labor market reforms --- Financial markets --- Population and demographics --- Labor market --- Commodity exchanges --- Population aging --- Economic theory --- Manpower policy --- Finland

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

This Selected Issues paper on the Czech Republic presents an analysis of various aspects of population aging: its macroeconomic effects; impact on fiscal sustainability; and implications for private savings. The paper simulates the macroeconomic effects of population aging in the Czech Republic using an overlapping-generations model. It finds that aging can significantly weaken the outlook for economic growth and living standards. The paper evaluates the fiscal implications of aging using a generational-accounting framework. It also evaluates the monetary policy implications of capital account volatility—as the relative importance of portfolio flows increases.

Exports and Imports --- Macroeconomics --- Public Finance --- Production and Operations Management --- Demography --- Economics of the Elderly --- Economics of the Handicapped --- Non-labor Market Discrimination --- Social Security and Public Pensions --- Macroeconomics: Production --- National Government Expenditures and Health --- Public Administration --- Public Sector Accounting and Audits --- Population & demography --- Pensions --- Public finance & taxation --- International economics --- Aging --- Pension spending --- Health care spending --- Productivity --- Financial statements --- Population and demographics --- Expenditure --- Production --- Public financial management (PFM) --- Population aging --- Expenditures, Public --- Industrial productivity --- Finance, Public --- Accounting --- Czech Republic