Demographic Change And Fiscal Policy
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Demographic Change And Fiscal Policy
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Author : Alan J. Auerbach
language : en
Publisher: Cambridge University Press
Release Date : 2001-02-26
Demographic Change And Fiscal Policy written by Alan J. Auerbach and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001-02-26 with Business & Economics categories.
An analyses the effect of changing demography in the US and elsewhere on tax revenues and public programmes.
Demographic Change And Economic Well Being
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Author : International Monetary Fund. Communications Department
language : en
Publisher: International Monetary Fund
Release Date : 2016-04-15
Demographic Change And Economic Well Being written by International Monetary Fund. Communications Department and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-04-15 with Social Science categories.
This paper discusses the role of fiscal policy and demographics. By the end of this century, about two-thirds of all countries are expected to have declining populations. This will have profound implications for economics, financial markets, social stability, and geopolitics. Fiscal policy responses and technological innovation are especially important parts of the solution. Without action, public pension and health systems will not be sustainable over the long term. The increase in life expectancy and economic welfare that came with the industrial revolution brought with it the seeds of demographic change. This is a demographic double whammy that will have major implications for economic growth, financial stability, and the public purse. With declining fertility rates, populations in some advanced economies did not just grow more slowly; they stagnated or began to shrink. IMF analysis suggests that, if everyone lived three years longer than expected, pension related costs could increase by 50 percent in both advanced and emerging economies. This would heavily affect private and public sector balance sheets and could also undermine financial stability.
How To Assess Fiscal Implications Of Demographic Shifts
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Author : Mr.David Amaglobeli
language : en
Publisher: International Monetary Fund
Release Date : 2016-09-27
How To Assess Fiscal Implications Of Demographic Shifts written by Mr.David Amaglobeli and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-09-27 with Social Science categories.
Over the next few decades, the world will experience significant demographic shifts, with material fiscal implications. In many advanced and emerging market economies, aging populations will lead to higher spending on pensions and health care. Moreover, projected population dynamics will adversely affect growth and government revenues. Building on and extending a 2015 IMF Staff Discussion Note by Clements and others, this note presents a simple framework that can assist researchers in quantifying the effects of demographic changes resulting from population aging on government fiscal balances. It includes two country applications of the framework and an associated template. The note addresses several key questions: What are channels through which demographic changes could affect public finances? How can we quantify the fiscal impact of demographic changes? How can we tailor the assessment to country-specific circumstances?
Demographic Change In Germany
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Author : Ingrid Hamm
language : en
Publisher: Springer Science & Business Media
Release Date : 2007-09-27
Demographic Change In Germany written by Ingrid Hamm and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-09-27 with Political Science categories.
This book provides an up-to-date summary of the consequences of demographic aging for labor markets, financial markets, economic growth, social security schemes and public finances in Germany, essentially reflecting the present state of knowledge in any of these areas. All contributions are written by leading experts in their fields and are based on results that emerge at the forefront of current research.
Impact Of Demographic Changes On Inflation And The Macroeconomy
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Author : Mr.Jong-Won Yoon
language : en
Publisher: International Monetary Fund
Release Date : 2014-11-24
Impact Of Demographic Changes On Inflation And The Macroeconomy written by Mr.Jong-Won Yoon and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-11-24 with Social Science categories.
The ongoing demographic changes will bring about a substantial shift in the size and the age composition of the population, which will have significant impact on the global economy. Despite potentially grave consequences, demographic changes usually do not take center stage in many macroeconomic policy discussions or debates. This paper illustrates how demographic variables move over time and analyzes how they influence macroeconomic variables such as economic growth, inflation, savings and investment, and fiscal balances, from an empirical perspective. Based on empirical findings—particularly regarding inflation—we discuss their implications on macroeconomic policies, including monetary policy. We also highlight the need to consider the interactions between population dynamics and macroeconomic variables in macroeconomic policy decisions.
The Puzzle Of The American Economy
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Author : Mark A. Pisano
language : en
Publisher: Bloomsbury Publishing USA
Release Date : 2017-03-09
The Puzzle Of The American Economy written by Mark A. Pisano and has been published by Bloomsbury Publishing USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-03-09 with Political Science categories.
This book explains how sweeping demographic changes have resulted in the ineffectiveness of recent monetary and fiscal policies, and it identifies corrective actions that will start to reverse the trends of low economic growth and widespread government deficits. The field of demographics does not focus on the economic impacts and the funding issues resulting from demographic change. Similarly, economics does not take into account demographic changes. The omissions in both fields are negatively impacting the nation: income reductions caused by demographic changes that have not been accounted for are so large that current fiscal policies are not able to mitigate them. The Puzzle of the American Economy: How Changing Demographics Will Affect Our Future and Influence Our Politics exposes the factors that are undermining the nation's prospects for improving the rate of economic growth and keeping up with citizens' needs for government-provided services. Author Mark A. Pisano explains the hidden drag on the economy that has led to the ineffectiveness of recent monetary and fiscal policies, how uncertainty in economic policymaking is affecting America politically as well as at the individual household level, and why those who are adversely impacted are becoming politically disaffected. He also presents an agenda for corrective individual action. Readers will understand how the results of changes in demographics will last for decades and extend beyond the United States to many developed countries—particularly Japan and nations in Europe—as well as to some developing countries. The book will be of value to students studying macro and micro economics; those in public policy at all levels of government, public administration, and governmental budgeting; and anyone attempting to understand the current dilemma in economic policymaking and our disjointed political process.
Inequality Demography And Fiscal Policy
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Author : Weijie Luo
language : en
Publisher:
Release Date : 2023
Inequality Demography And Fiscal Policy written by Weijie Luo and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023 with categories.
This book aims to empirically and theoretically study how income inequality and demographic change affected fiscal policy and subsequent economic growth globally in the past decades from four perspectives. First, it briefly reviews the dynamic changes of income sources that contribute to inequality. Second, it distinguishes between income inequality induced by differences in labor productivity and income inequality induced by differences in capital income. Third, it briefly reviews the dynamic changes of tax composition in the age of demographic change. Last, it discusses the impacts of changes in age structure on the extent of taxes on income relative to expenditure. This book offers a comprehensive discussion to understand and analyze the reason, performance and challenge of fiscal policy and economic growth from the perspective of inequality and demographics. In addition to students, teachers and researchers in the areas of equity, demography, political economy and economic policy, this book is also of great interest to policy makers, planners and non-government agencies who are concerned with understanding and addressing poverty-related and aging-related issues in developed and developing countries.
Would Population Aging Change The Output Effects Of Fiscal Policy
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Author : Mr.Jiro Honda
language : en
Publisher: International Monetary Fund
Release Date : 2020-06-12
Would Population Aging Change The Output Effects Of Fiscal Policy written by Mr.Jiro Honda and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-06-12 with Social Science categories.
Would population aging affect the effectiveness of fiscal stimulus? Despite the renewed focus on population aging, there are few empirical studies on the output effects of fiscal policy in aging economies. Our study fills this gap by analyzing this issue in OECD countries. We find that, as population ages, the output effects of fiscal spending shocks are weakened. We also find that, while high-debt countries generally face weaker fiscal multipliers, high-debt aging economies face even weaker multipliers. These results point to important policy implications: population aging would call for a larger fiscal stimulus to support aggregate demand during recession and thus require larger fiscal space to allow a wider swing of the fiscal position without creating concerns for fiscal sustainability. Our analysis also suggests that policy measures to promote labor supply could help increase the output effect of fiscal stimulus in aging economies.
Fiscal Accountability And Population Aging
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Author : Robert L. Clark
language : en
Publisher: Edward Elgar Publishing
Release Date : 2021-04-30
Fiscal Accountability And Population Aging written by Robert L. Clark and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-04-30 with Business & Economics categories.
Focusing on the developing economic challenges confronting Korea and the US in response to the aging of their populations, this timely book examines how public policies are evolving in light of demographic changes, the impact of aging on governmental expenditures, and transitions in the labor force associated with aging.
Aging And The Macroeconomy
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Author : National Research Council
language : en
Publisher: National Academies Press
Release Date : 2013-01-10
Aging And The Macroeconomy written by National Research Council and has been published by National Academies Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-01-10 with Social Science categories.
The United States is in the midst of a major demographic shift. In the coming decades, people aged 65 and over will make up an increasingly large percentage of the population: The ratio of people aged 65+ to people aged 20-64 will rise by 80%. This shift is happening for two reasons: people are living longer, and many couples are choosing to have fewer children and to have those children somewhat later in life. The resulting demographic shift will present the nation with economic challenges, both to absorb the costs and to leverage the benefits of an aging population. Aging and the Macroeconomy: Long-Term Implications of an Older Population presents the fundamental factors driving the aging of the U.S. population, as well as its societal implications and likely long-term macroeconomic effects in a global context. The report finds that, while population aging does not pose an insurmountable challenge to the nation, it is imperative that sensible policies are implemented soon to allow companies and households to respond. It offers four practical approaches for preparing resources to support the future consumption of households and for adapting to the new economic landscape.