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Addressing Korea's Long-Term Fiscal Challenges

Addressing Korea's Long-Term Fiscal Challenges »

Source: Addressing Korea's Long-Term Fiscal Challenges

Volume/Issue: 2008/27

Series: IMF Working Papers

Author(s): Murtaza Syed , Michael Skaarup , and Tarhan Feyzioglu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2008

ISBN: 9781451868890

Keywords: Korea, Simulation, Sustainability, Tax Reform, General Equilibrium, pension, pension reform, tax rates, pension fund, fiscal policy

Korea is on the verge of an unprecedented demographic shift. In coming decades, rapid aging will transform it from one of the youngest populations in the OECD to among the oldest in record time. In turn, this shift...

Alternative Fiscal Rules for Norway

Alternative Fiscal Rules for Norway »

Source: Alternative Fiscal Rules for Norway

Volume/Issue: 2007/241

Series: IMF Working Papers

Author(s): Daniel Leigh , and Etibar Jafarov

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2007

ISBN: 9781451868043

Keywords: pension, pension spending, fiscal position, retirement

This paper considers long-term fiscal policy options in Norway, the world's fifth largest oil exporter, in light of the substantial expected increase in pension outlays. It compares the current fiscal rule, which t...

Automatic Adjustment Mechanisms in Asian Pension Systems?

Automatic Adjustment Mechanisms in Asian Pension Systems? »

Source: Automatic Adjustment Mechanisms in Asian Pension Systems?

Volume/Issue: 2016/242

Series: IMF Working Papers

Author(s): Elif Arbatli , Csaba Feher , Jack Ree , Ikuo Saito , and Mauricio Soto

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 December 2016

ISBN: 9781475560336

Keywords: Pensions, Pension reforms, Japan, Korea, Republic of, China, People's Republic of, China, Asia and Pacific, Asia, Retirement, Pension System Reform

Automatic adjustment mechanisms (AAMs)-rules ensuring that certain characteristics of a pension system respond to demographic, macroeconomic and financial developments, in a predetermined fashion and without the ne...

Can Inheritances Alleviate the Demographic Burden?

Can Inheritances Alleviate the Demographic Burden? »

Source: Can Inheritances Alleviate the Demographic Burden?

Volume/Issue: 2001/97

Series: IMF Working Papers

Author(s): Erik Lueth

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2001

ISBN: 9781451852028

Keywords: Bequests, computable GEM, social insurance, aging, budget constraint, welfare loss, Social Security and Public Pensions, Computable and Other Applied General Equilibrium Models,

With pay-as-you-go schemes in place, population aging will impose a heavy fiscal burden on young and future cohorts. However, these cohorts may also profit from larger inheritances as the number of heirs declines....

China's High Savings: Drivers, Prospects, and Policies1

China's High Savings: Drivers, Prospects, and Policies1 »

Source: China's High Savings: Drivers, Prospects, and Policies

Volume/Issue: 2018/277

Series: IMF Working Papers

Author(s): Longmei Zhang , Ray Brooks , Ding Ding , Haiyan Ding , Hui He , Jing Lu , and Rui Mano

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 December 2018

ISBN: 9781484388778

Keywords: Asia and Pacific, China, People's Republic of, China; Savings; Demographic Changes; Social Safety Net; Inequality; Housing; Projections, China, Savings, Demographic Changes, Social Safety Net, Inequality; Housing, Projections,

China's high national savings rate-one of the highest in the world-is at the heart of its external/internal imbalances. High savings finance elevated investment when held domestically, or lead to large external imb...

Counting the Oil Money and the Elderly: Norway's Public Sector Balance Sheet

Counting the Oil Money and the Elderly: Norway's Public Sector Balance Sheet »

Source: Counting the Oil Money and the Elderly: Norway's Public Sector Balance Sheet

Volume/Issue: 2018/190

Series: IMF Working Papers

Author(s): Ezequiel Cabezon , and Christian Henn

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 August 2018

ISBN: 9781484370117

Keywords: Europe, Norway, Public Sector Balance Sheet, Intertemporal Fiscal Balances, Debt Sustainability, General, Social Security and Public Pensions, General, Governmental Loans and Credits, Norway

Based on a permanent income analysis, Gagnon (2018) has prominently suggested that Norway has saved too much, thereby free-riding on the rest of the world for demand. Our public sector balance sheet analysis comes...

Demographic Changes in Latin America

Demographic Changes in Latin America »

Source: Demographic Changes in Latin America : The Good, the Bad and …

Volume/Issue: 2017/94

Series: IMF Working Papers

Author(s): Santiago Acosta Ormaechea , Marco Espinosa-Vega , and Diego Wachs

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 April 2017

ISBN: 9781475594775

Keywords: Aging, Government expenditures and health, public pension spending, public healthcare spending, pension system reforms, Social Security and Public Pensions, Forecasts of Budgets, Deficits, and Debt

The paper develops a simple, integrated methodology to project public pension cash flows and healthcare spending over the long term. We illustrate its features by applying it to the LAC5 (Argentina, Brazil, Chile,...

Demographics, Old-Age Transfers and the Current Account1

Demographics, Old-Age Transfers and the Current Account1 »

Source: Demographics, Old-Age Transfers and the Current Account

Volume/Issue: 2018/264

Series: IMF Working Papers

Author(s): Mai Chi Dao , and Callum Jones

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 December 2018

ISBN: 9781484385906

Keywords: Pensions, Demographic indicators, Current account balances, Current account surpluses, Capital flows, Aging, Demographics, Current Account Flows, External Imbalances, General

Building on the evolving literature on the topic, this paper reviews the relationship between demographics and long-run capital flows in both theory and in the data. For this purpose, we develop a two region overla...

Demographics, Pension Systems and the Saving-Investment Balance

Demographics, Pension Systems and the Saving-Investment Balance »

Source: Demographics, Pension Systems and the Saving-Investment Balance

Volume/Issue: 2018/265

Series: IMF Working Papers

Author(s): Hua Chai , and Jun Il Kim

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 December 2018

ISBN: 9781484385876

Keywords: Capital flows, Foreign exchange, Current account, Aging, Investment, Pensions, Private savings, Public sector savings, Demographic indicators, demographics

This paper studies the effect of demographic change on national saving, global interest rates, and international capital flows, focusing on the role of the public pension system. We develop a small open economy ove...

Electoral System and Public Spending

Electoral System and Public Spending »

Source: Electoral System and Public Spending

Volume/Issue: 2001/22

Series: IMF Working Papers

Author(s): Roberto Perotti , Massimo Rostagno , and Gian Milesi-Ferretti

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2001

ISBN: 9781451843972

Keywords: electoral rules, proportionality, public spending, transfers, electoral system, electoral systems, voter, voting, government spending, Structure

We study the effects of electoral institutions on the size and composition of public expenditure in OECD and Latin American countries. We present a model emphasizing the distinction between purchases of goods and s...