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Tax and Pension Reform in the Czech Republic—Implications for Growth and Debt Sustainability / / Dennis Botman, Anita Tuladhar



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Autore: Botman Dennis Visualizza persona
Titolo: Tax and Pension Reform in the Czech Republic—Implications for Growth and Debt Sustainability / / Dennis Botman, Anita Tuladhar Visualizza cluster
Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2008
Descrizione fisica: 1 online resource (27 p.)
Disciplina: 336.2
Soggetto topico: Taxation - Czech Republic
Pensions - Czech Republic
Debts, Public - Czech Republic
Fiscal policy - Czech Republic
Economic development - Czech Republic
Macroeconomics
Public Finance
Taxation
Demography
Personal Income and Other Nonbusiness Taxes and Subsidies
Fiscal Policy
National Government Expenditures and Related Policies: General
Economics of the Elderly
Economics of the Handicapped
Non-labor Market Discrimination
Macroeconomics: Consumption
Saving
Wealth
Welfare & benefit systems
Public finance & taxation
Population & demography
Social security contributions
Fiscal policy
Expenditure
Aging
Consumption
Social security
Expenditures, Public
Population aging
Economics
Soggetto geografico: Czech Republic
Altri autori: TuladharAnita  
Note generali: Description based upon print version of record.
Nota di bibliografia: Includes bibliographical references.
Nota di contenuto: Contents; 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
E. 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
1. 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
Sommario/riassunto: The 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.
Titolo autorizzato: Tax and Pension Reform in the Czech Republic—Implications for Growth and Debt Sustainability  Visualizza cluster
ISBN: 1-4623-5781-4
1-4527-0973-4
1-4518-6985-1
9786612840791
1-282-84079-7
Formato: Materiale a stampa
Livello bibliografico Monografia
Lingua di pubblicazione: Inglese
Record Nr.: 9910788238003321
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Serie: IMF Working Papers; Working Paper ; ; No. 2008/125