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Characterizing the Expenditure Uncertainties of Industrial Countries in the 21st Century, Peter Heller, David Hauner

Contributor
Abstract
A number of uncertainties about long-term expenditure commitments in industrial countries are examined: (i) the assumptions underlying the projections, (ii) the potential to further reduce non-age-related expenditures, (iii) the implicitly assumed absence of "shocks," and (iv) the potential for raising revenue. This paper concludes that (i) there is scope, but within narrow limits, to reduce non-age-related expenditures; (ii) fiscal policy frameworks tend to understate risks; and (iii) prevailing tax rates leave little room for increasing taxation in the countries facing the strongest aging pressures. In sum, governments will have to adopt a much more ambitious fiscal policy stance to cope with aging populations
Table Of Contents
""Contents""; ""I. INTRODUCTION""; ""II. FISCAL SUSTAINABILITY FRAMEWORKS""; ""III. UNCERTAINTIES ABOUT LONG-TERM EXPENDITURE TRENDS""; ""IV. POTENTIAL ADDITIONAL UPSIDE RISKS""; ""V. CONCLUDING OBSERVATIONS""
Language
eng
Literary Form
non fiction
Note
Description based upon print version of record
Physical Description
1 online resource (35 p.)
Specific Material Designation
remote
Form Of Item
online
Isbn
9781283512350

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