IMF paper studies fiscal impact of ageing population
A working paper, published by the International Monetary Fund in June, examines the impact of an ageing population on 'fiscal space', which measures the extent to which governments can increase their expenditure while maintaining sustainable finances.
The author, Seok Gil Park, uses a neoclassical growth model to analyse annual data from the G-7 countries from 1995–2009. The paper finds that fiscal space shrinks most in response to an ageing population in countries with larger governments
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