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Record Nr. |
UNINA9910786480103321 |
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Autore |
Park Seok |
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Titolo |
Quantifying Impact of Aging Population on Fiscal Space / / Seok Park |
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Pubbl/distr/stampa |
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Washington, D.C. : , : International Monetary Fund, , 2012 |
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ISBN |
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1-4755-7203-4 |
1-4755-6875-4 |
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Descrizione fisica |
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1 online resource (26 p.) |
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Collana |
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Soggetti |
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Finance, Public |
Population policy |
Macroeconomics |
Public Finance |
Taxation |
Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General |
Demographic Trends, Macroeconomic Effects, and Forecasts |
Taxation, Subsidies, and Revenue: General |
Fiscal Policy |
Personal Income and Other Nonbusiness Taxes and Subsidies |
Labor Economics: General |
National Government Expenditures and Related Policies: General |
Public finance & taxation |
Welfare & benefit systems |
Labour |
income economics |
Revenue administration |
Fiscal space |
Labor taxes |
Labor |
Expenditure |
Revenue |
Fiscal policy |
Income tax |
Labor economics |
Expenditures, Public |
United States |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Description based upon print version of record. |
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Nota di bibliografia |
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Includes bibliographical references. |
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Nota di contenuto |
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Cover; Contents; I. Introduction; II. Model; III. Calibration; IV. Results; V. Concluding Remarks; Tables; 1. Parameters for Labor/Leisure Choice; 2. Variables to be Calibrated for Country-Specific Data; 3. Parameters Common to Countries; Figures; 1. Hours Worked Per Person and Aging Trend; 2. Aging Trend and Changes in Parameters for Labor/Leisure Decision; 3. Labor Laffer Curve with CD Preference; 4. Labor Laffer Curve with CFE Preference; 5. Capital Laffer Curve with CD Preference; 6. Capital Laffer Curve with CFE Preference; 7. Tax Revenue Decomposition and Tax Bases |
8. Tax Revenue Ratio, Hours Worked, and Output 9. Iso-Revenue Curve (CD Preference); 10. Decrease in Fiscal Space vs. Decrease in Labor Supply; References |
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Sommario/riassunto |
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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 from a given reduction in hours worked due to their larger government expenditure. Corrective measures such as pension reform and flexible expenditure policy would be required in order to mitigate the impact of aging on fiscal space. |
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