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Fiscal Policy Response to External Crises the Case of Moldova 1998-2010

Qehaja, Driton - International Monetary Fund (IMF) - 2012

External shocks pose major challenges to fiscal policy makers through lower output and large fiscal imbalances. This paper analyzes the case of Moldova, which faced parallel crises a decade apart: the Russian crisis of 1998 and the global financial crisis of 2008-2009. The country went through...

Persistent link: https://www.econbiz.de/10010790375

Intergenerational Implications of Fiscal Consolidation in Japan

Tokuoka, Kiichi - International Monetary Fund (IMF) - 2012

In Japan, intergenerational inequality in lifetime resources is substantial, with a heavier fiscal burden on the young than the old. Moreover, given the need for fiscal consolidation, the inequality is even worse than existing policy would suggest. However, this does not mean that fiscal...

Persistent link: https://www.econbiz.de/10010790385

Can the Eastern Caribbean Currency Union Afford to Grow Old?

Monroe, Hunter K. - International Monetary Fund (IMF) - 2009

which could magnify the challenge of pension reform. First, for some ECCU countries, continued emigration at historical … rates would considerably advance the projected date at which pension scheme assets are depleted. Second, there is a …

Persistent link: https://www.econbiz.de/10005768869

Pension Reform in China; The Need for a New Approach

Dunaway, Steven Vincent; Arora, Vivek B. - International Monetary Fund (IMF) - 2007

The rapid aging of China's population over the next few decades makes it important for a new pension system with broad … and adequate coverage to be put in place quickly. Pension reforms, first initiated in 1997, have become bogged down in … system. This paper argues that a way forward is to separate the legacy problem from the problem of setting up a new pension …

Persistent link: https://www.econbiz.de/10005769032

Ensuring Fiscal Sustainability in G-7 Countries

Leigh, Daniel; Hauner, David; Skaarup, Michael - International Monetary Fund (IMF) - 2007

Rising longevity, falling fertility rates, and the retirement of the baby boom generation will substantially raise age-related government spending in most advanced and many emerging market countries. This paper assesses the evolution of fiscal sustainability for each of the G-7 countries using...

Persistent link: https://www.econbiz.de/10005769069

Coping with Spain's Aging; Retirement Rules and Incentives

Hoffmaister, Alexander W.; Catalán, Mario; Guajardo, Jaime - International Monetary Fund (IMF) - 2007

This paper evaluates the macroeconomic and welfare effects of extending the averaging period used to calculate pension …

Persistent link: https://www.econbiz.de/10005769092

Policy Challenges of Population Aging in Ireland

Iakova, Dora M.; Botman, Dennis P. J. - International Monetary Fund (IMF) - 2007

The projected rise in age-related government spending as a share of GDP in Ireland over the next forty years is among the highest in the euro area. In the absence of reforms, public debt will increase to unsustainable levels. This paper uses the IMF's Global Fiscal Model to compare the...

Persistent link: https://www.econbiz.de/10005599602

The Limits of Market-Based Risk Transfer and Implications for Managing Systemic Risks

Blancher, Nicolas R.; Haas, François; Kiff, John; … - International Monetary Fund (IMF) - 2006

The paper discusses the limits to market-based risk transfer in the financial system and the implications for the management of systemic long-term financial risks. Financial instruments or markets to transfer and better manage these risks across institutions and sectors are, as yet, either...

Persistent link: https://www.econbiz.de/10005599607

Company Pension Plans, Stock Market Returns, and Labor Demand

Detragiache, Enrica - International Monetary Fund (IMF) - 2003

solvency of their defined-benefit pension plans. Will this lead to higher contributions? Will higher contributions increase … pension fund regulation? This paper develops a theoretical model to address these questions. Although its scope is more … general, the model captures the main institutional features of the pension system in the Netherlands, a country where the …

Persistent link: https://www.econbiz.de/10005604805

Hong Kong Special Administrative Region; Macroeconomic Impact of An Aging Population in a Highly Open Economy

Leigh, Lamin - International Monetary Fund (IMF) - 2006

Hong Kong SAR's population is aging rapidly. This paper concludes that, without a change in policies, aging could adversely affect growth and living standards. While higher labor productivity growth and increased migration of younger skilled workers from the Chinese mainland, would attenuate the...

Persistent link: https://www.econbiz.de/10005604947