Quantifying Impact of Aging Population on Fiscal Space / / Seok Park

• Autore: Park Seok
• Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2012
• Edizione: 1st ed.
• Descrizione fisica: 1 online resource (26 p.)
• Disciplina: 332.152
• Soggetto topico: Finance, Public; Population policy; Demographic Trends, Macroeconomic Effects, and Forecasts; Expenditure; Expenditures, Public; Fiscal Policy; Fiscal policy; Fiscal space; Income economics; Income tax; Labor economics; Labor Economics: General; Labor taxes; Labor; Labour; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General; Macroeconomics; National Government Expenditures and Related Policies: General; Personal Income and Other Nonbusiness Taxes and Subsidies; Public finance & taxation; Public Finance; Revenue administration; Revenue; Taxation; Taxation, Subsidies, and Revenue: General; Welfare & benefit systems
• Soggetto geografico: United States
• Note generali: Description based upon print version of record.
• Nota di bibliografia: Includes bibliographical references.
• Nota di contenuto: 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
• Sommario/riassunto: 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.
• Titolo autorizzato: Quantifying Impact of Aging Population on Fiscal Space
• ISBN: 1-4755-7203-4; 1-4755-6875-4
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910808179503321
• Lo trovi qui: Univ. Federico II
• Serie: IMF Working Papers; Working Paper ; ; No. 2012/164