Population Aging and Long-Term Fiscal Sustainability in Austria
Leif Lybecker Eskesen
International Monetary Fund (IMF)
IMF Working Paper No. 02/216
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.
Number of Pages in PDF File: 25
Keywords: Population Aging, Pensions, Health Care, Fiscal Policy, Public Finance Sustainability
JEL Classification: E6, H1, H5, H6, J1, J2working papers series
Date posted: February 12, 2006
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