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Europe > Norway

You are looking at 1 - 4 of 4 items for :

  • Type: Journal Issue x
  • Population aging x
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Cover Selected Issues Papers
Japan’s Fertility: More Children Please
Kohei Asao
,
Danila Smirnov
, and
TengTeng Xu
Japan’s fertility has declined in the past three decades. Raising Japan’s fertility rate is a key policy priority for the government. Using cross-country analysis and case studies, this paper finds that the most successful measure to support the fertility rate is the provision of childcare facilities, particularly for children aged 0-2. Offering stronger incentives for the use of paternity leave can alleviate the burden of childcare on mothers, supporting fertility. On the other hand, there is limited evidence that cash transfers are effective in supporting fertility, based on international experience.
Keywords:
Fertility; childcare; gender; labor market; fertility growth; TengTeng xu; Japan's fertility; fertility rate; fertility rate growth; Women; Gender inequality; Gender diversity; Employment; Aging; East Asia
Cover IMF Working Papers
Counting the Oil Money and the Elderly: Norway's Public Sector Balance Sheet
Ezequiel Cabezon
and
Christian Henn
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 to the opposite conclusion, chiefly because it also accounts for future aging costs. Unsurprisingly, we find that Norway’s current assets exceed its liabilities by some 340 percent of mainland GDP. But its nonoil fiscal deficits have grown very large (to almost 8 percent of mainland GDP) and aging pressures are only commencing. Therefore, Norway’s intertemporal financial net worth (IFNW) is negative, at about -240 percent of mainland GDP. As IFNW represents an intertemporal budget constraint, this implies that Norway’s savings are likely insufficient to address aging costs without additional fiscal action.
Keywords:
WP; mainland GDP; oil price; GPFG asset; asset price; asset stock; Public Sector Balance Sheet; Intertemporal Fiscal Balances; Debt Sustainability; Norway; statistics Norway; Norwegian krone; Norway's intertemporal financial net worth; Intertemporal public sector balance sheet; Norway's assets; Norway's IFNW; nonfinancial assets; GPFG consist; price development; Financial statements; Oil prices; Asset prices; Aging; Global
Cover IMF Working Papers
Alternative Fiscal Rules for Norway
Mr. Daniel Leigh
and
Mr. Etibar Jafarov
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 targets a (central government structural) non-oil deficit equal to 4 percent of Government Pension Fund assets, with three alternatives that save a larger share of oil revenue and accumulate more assets to pay for aging costs. It also analyzes the macroeconomic consequences of accumulating more assets, finding that the additional income generated from more assets allows lower tax rates, with positive effects on long-term output.
Keywords:
WP; GDP; GPF assets; budget
Cover Who Will Pay? Coping with Aging Societies, Climate Change, and Other Long-Term Fiscal Challenges
Who Will Pay? Coping with Aging Societies, Climate Change, and Other Long-Term Fiscal Challenges
Mr. Peter S. Heller

Abstract

Aging populations. Weather shocks. Scarce water. Globalization. Security threats. Policymakers today confront a number of developments that threaten to burden public budgets for decades to come, or bankrupt some entirely. This book argues that governments need to make policy changes now to take account of the potential fiscal consequences of these developments. After describing how, if at all, analysts, national governments, and international organizations currently address these long-term issues, the book stresses the vital need for a multipronged approach, involving strengthened analyses, greater attention to long-term issues and risk factors in budgeting, and institutional reforms that address the myopic biases of politicians and the public.

Keywords:
BOOK; government; policy; country; policy commitment; government policy; policy reform; policy action; policy uncertainty; fiscal policy framework; Aging; Global; Western Europe; South Asia; Sub-Saharan Africa; Budget planning and preparation; Caribbean