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Population Aging and Long-Term Fiscal Sustainability in Austria

Austria faces significant population aging. This will increase public spending on pensions, health care, and long-term care, while tax and social security revenues will fall. This paper analyzes the fiscal burden facing Austria due to aging and the policy steps necessary to address it. The paper fin...

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Bibliographic Details
Main Author: Eskesen, Leif
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2002
Series:IMF Working Papers
Subjects:
Population & Demography
Economics Of The Handicapped
Private Pensions
Pension Spending
Labour; Income Economics
Retirement Policies
Non-labor Market Discrimination
Social Security And Public Pensions
Public Finance & Taxation
National Government Expenditures And Health
Nonwage Labor Costs And Benefits
Health Care Spending
Aging
Economics Of The Elderly
Population Aging
Labor
Population And Demographics
Expenditure
Retirement
Demography
Expenditures, Public
Pensions
Public Finance
Austria
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:Austria faces significant population aging. This will increase public spending on pensions, health care, and long-term care, while tax and social security revenues will fall. This paper analyzes the fiscal burden facing Austria due to aging and the policy steps necessary to address it. The paper finds that Austria is not well prepared to meet the fiscal burden of aging and that fiscal sustainability is threatened, even under fairly optimistic assumptions about the effects of recent pension and labor market reforms. Consequently, to ensure long-term sustainability, pension reform must go further and other saving measures might also be necessary
Physical Description:24 pages
ISBN:9781451875096

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