LEADER 06424oam 22012974 450 001 9910788238003321 005 20230721045620.0 010 $a1-4623-5781-4 010 $a1-4527-0973-4 010 $a1-4518-6985-1 010 $a9786612840791 010 $a1-282-84079-7 035 $a(CKB)3170000000055029 035 $a(EBL)1607875 035 $a(SSID)ssj0000943282 035 $a(PQKBManifestationID)11593671 035 $a(PQKBTitleCode)TC0000943282 035 $a(PQKBWorkID)10975621 035 $a(PQKB)11240441 035 $a(OCoLC)761905384 035 $a(MiAaPQ)EBC1607875 035 $a(IMF)WPIEE2008125 035 $a(EXLCZ)993170000000055029 100 $a20020129d2008 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aTax and Pension Reform in the Czech Republic?Implications for Growth and Debt Sustainability /$fDennis Botman, Anita Tuladhar 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2008. 215 $a1 online resource (27 p.) 225 1 $aIMF Working Papers 225 0$aIMF working paper ;$vWP/08/125 300 $aDescription based upon print version of record. 311 $a1-4519-1439-3 320 $aIncludes bibliographical references. 327 $aContents; I. Tax and Pension Reform in the Czech Republic-Implications for Growth and Debt Sustainability; A. Background; B. Fiscal Challenges and Demographic Pressures; Figures; 1. Demographic Indicators, 2004-50; 2. Long-Term Fiscal Pressures in the Czech Republic; 3. Debt Dynamics From Population Aging in the Czech Republic; C. Analytical Framework; D. Assessing the Fiscal Reform Package; Tables; 1. Estimates of Impact of Key Fiscal Reform Measures; 4. Czech Republic: Macroeconomic Effects of Tax Reform; 5. Czech Republic: Macroeconomic Effects of Tax Reform and Expenditure Restraint 327 $aE. Adjustment Strategies to Achieve the Medium Term Objective6. Debt Dynamics From Population Aging in the Czech Republic; F. Achieving Long Term Sustainability: Pension Reform Proposals; 7. Comparing Alternative Measures to Reach 1 Percent of GDP Deficit by 2012; 8. 1-Percent of GDP Deficit by 2012 Through Reform Package and Raising Retirement Age; 9. Comparing Alternative Strategies to Achieve Debt Sustainability; 10. Pension Reform From 2012 Onwards After 1-Percent of GDP Deficit Through Package; G. Conclusions; References; Appendixes; I. Analytical Framework; Appendix Tables 327 $a1. GFM Parameterization2. Initial Steady-State Ratio; 3. Initial Steady-State of Fiscal Varialbes; II. Sensitivity Analysis; Appendix Figures; 1. Sensitivity Analysis: Macroeconomic Effects of Tax Reform and Expenditure Restraint 330 3 $aThe Czech Republic has embarked on an ambitious tax reform and expenditure package to bring the deficit sustainably below 3 percent, and intends to reduce the deficit to 1 percent of GDP by 2012. To address the long-term fiscal challenge due to population aging, pension reform proposals are also being considered. In this paper we assess the macroeconomic effects of these measures using the Global Fiscal Model. The tax reform package will achieve a more efficient tax system. If implemented successfully with the intended expenditure savings measures, debt is projected to improve markedly while output would expand. Fiscal sustainability will not be restored, however, even if further measures to bring the deficit to 1 percent of GDP by 2012. Instead, raising the retirement age and prefunding future aging costs would be needed to keep debt below 60 percent of GDP through 2050. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2008/125 606 $aTaxation$zCzech Republic 606 $aPensions$zCzech Republic 606 $aDebts, Public$zCzech Republic 606 $aFiscal policy$zCzech Republic 606 $aEconomic development$zCzech Republic 606 $aMacroeconomics$2imf 606 $aPublic Finance$2imf 606 $aTaxation$2imf 606 $aDemography$2imf 606 $aPersonal Income and Other Nonbusiness Taxes and Subsidies$2imf 606 $aFiscal Policy$2imf 606 $aNational Government Expenditures and Related Policies: General$2imf 606 $aEconomics of the Elderly$2imf 606 $aEconomics of the Handicapped$2imf 606 $aNon-labor Market Discrimination$2imf 606 $aMacroeconomics: Consumption$2imf 606 $aSaving$2imf 606 $aWealth$2imf 606 $aWelfare & benefit systems$2imf 606 $aPublic finance & taxation$2imf 606 $aPopulation & demography$2imf 606 $aSocial security contributions$2imf 606 $aFiscal policy$2imf 606 $aExpenditure$2imf 606 $aAging$2imf 606 $aConsumption$2imf 606 $aSocial security$2imf 606 $aExpenditures, Public$2imf 606 $aPopulation aging$2imf 606 $aEconomics$2imf 607 $aCzech Republic$2imf 615 0$aTaxation 615 0$aPensions 615 0$aDebts, Public 615 0$aFiscal policy 615 0$aEconomic development 615 7$aMacroeconomics 615 7$aPublic Finance 615 7$aTaxation 615 7$aDemography 615 7$aPersonal Income and Other Nonbusiness Taxes and Subsidies 615 7$aFiscal Policy 615 7$aNational Government Expenditures and Related Policies: General 615 7$aEconomics of the Elderly 615 7$aEconomics of the Handicapped 615 7$aNon-labor Market Discrimination 615 7$aMacroeconomics: Consumption 615 7$aSaving 615 7$aWealth 615 7$aWelfare & benefit systems 615 7$aPublic finance & taxation 615 7$aPopulation & demography 615 7$aSocial security contributions 615 7$aFiscal policy 615 7$aExpenditure 615 7$aAging 615 7$aConsumption 615 7$aSocial security 615 7$aExpenditures, Public 615 7$aPopulation aging 615 7$aEconomics 676 $a336.2 700 $aBotman$b Dennis$0901784 701 $aTuladhar$b Anita$01462070 801 0$bDcWaIMF 906 $aBOOK 912 $a9910788238003321 996 $aTax and Pension Reform in the Czech Republic?Implications for Growth and Debt Sustainability$93704209 997 $aUNINA