Population Aging and Long-Term Fiscal Sustainability in Austria

Author/Editor:

Leif Lybecker Eskesen

Publication Date:

December 1, 2002

Electronic Access:

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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

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.

Series:

Working Paper No. 02/216

Subject:

English

Publication Date:

December 1, 2002

ISBN/ISSN:

9781451875096/1018-5941

Stock No:

WPIEA2162002

Price:

$15.00 (Academic Rate:$15.00)

Format:

Paper

Pages:

24

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