Age Related Pension Expenditure and Fiscal Space

Age Related Pension Expenditure and Fiscal Space
Author: Mukul G. Asher
Publisher: Routledge
Total Pages: 190
Release: 2016-02-22
Genre: Business & Economics
ISBN: 1317371585

This book explores the linkages between age-related pension expenditures and the fiscal space needed to fund them, as well as to organize the mix of financing methods with different risk-sharing arrangements. After critically assessing the existing models projecting age-related expenditure in the literature, the book focuses on the case studies of these inter-linkages in four highly-populated East Asian countries, namely China, Indonesia, India, and Japan. Nearly two- fifths of the global population live in these countries. Therefore, how these inter-linkages manifest themselves and the initiatives in these countries for finding fiscal space will have an impact on how the ageing issues are addressed globally. This book does several distinguishing characteristics, including exploration of inter-linkages between age-related expenditure and fiscal space, and application of country-specific methods to explore these linkages, rather than relying standard macroeconomic model. In the process, the studies also bring out the limitations of standardized model used in the literatures. Scholars and policy makers interested in the subject will definitely find the book of valuable use.

Age Related Pension Expenditure and Fiscal Space

Age Related Pension Expenditure and Fiscal Space
Author: Mukul G. Asher
Publisher: Routledge
Total Pages: 207
Release: 2016-02-22
Genre: Business & Economics
ISBN: 1317371593

This book explores the linkages between age-related pension expenditures and the fiscal space needed to fund them, as well as to organize the mix of financing methods with different risk-sharing arrangements. After critically assessing the existing models projecting age-related expenditure in the literature, the book focuses on the case studies of these inter-linkages in four highly-populated East Asian countries, namely China, Indonesia, India, and Japan. Nearly two- fifths of the global population live in these countries. Therefore, how these inter-linkages manifest themselves and the initiatives in these countries for finding fiscal space will have an impact on how the ageing issues are addressed globally. This book does several distinguishing characteristics, including exploration of inter-linkages between age-related expenditure and fiscal space, and application of country-specific methods to explore these linkages, rather than relying standard macroeconomic model. In the process, the studies also bring out the limitations of standardized model used in the literatures. Scholars and policy makers interested in the subject will definitely find the book of valuable use.

The Challenge of Public Pension Reform in Advanced and Emerging Economies

The Challenge of Public Pension Reform in Advanced and Emerging Economies
Author: Mr.Benedict J. Clements
Publisher: International Monetary Fund
Total Pages: 86
Release: 2013-01-25
Genre: Business & Economics
ISBN: 147556631X

Pension reform is high on the policy agenda of many advanced and emerging market economies. In advanced economies the challenge is generally to contain future increases in public pension spending as the population ages. In emerging market economies, the challenges are often different. Where pension coverage is extensive, the issues are similar to those in advanced economies. Where pension coverage is low, the key challenge will be to expand coverage in a fiscally sustainable manner. This volume examines the outlook for public pension spending over the coming decades and the options for reform in 52 advanced and emerging market economies.

Routledge Handbook of Policy Design

Routledge Handbook of Policy Design
Author: Michael Howlett
Publisher: Routledge
Total Pages: 474
Release: 2018-07-17
Genre: Political Science
ISBN: 1351252917

Uniting theoretical bases and advancements in practice, the Routledge Handbook of Policy Design brings together leading experts in the academic field of policy design in a pioneering effort of scholarship. Each chapter provides a multi-topic overview of the state of knowledge on how, why, where or when policies are designed and how such designs can be improved. These experts address how a new emphasis on effective policy design has re-emerged ​in public policy studies in recent years ​and ​clarify the role of historical policy decisions, policy capacities and government intentions in promoting a design orientation towards ​policy formulation and policy-making more generally. They examine many previously unexplored aspects of policy designs and designing activities, which focus upon analyzing and improving the sets of policy tools adopted by governments to correct policy problems. Ranging from the fundamentals of policy design and its place in greater policy studies, to new questions regarding policy design content and ​effectiveness, to contemporary design trends such as the use of digital tools and big data, the Routledge Handbook of Policy Design is a comprehensive reference for students and scholars of public policy, public administration and public management, government and business.

From Stimulus to Consolidation

From Stimulus to Consolidation
Author: Juan Toro R.
Publisher: International Monetary Fund
Total Pages: 122
Release: 2010-10-06
Genre: Business & Economics
ISBN: 1455217611

This paper identifies policy tools that could be used for fiscal consolidation in advanced and emerging economies in the years ahead. The consolidation strategy, particularly in advanced countries, should aim to stabilize age-related spending in relation to GDP, reduce non-age-related expenditure ratios, and increase revenues. Bold reforms are needed to offset projected increases in age-related spending, particularly health care. On the revenue side, measures could include improving tax compliance, for example through better international cooperation, as well as increasing the yield from VAT by eliminating exemptions and reduced rates, further developing property taxes, and increasing excise rates within the range of rates already applicable in comparable countries.

Creating Fiscal Space for Poverty Reduction in Ecuador

Creating Fiscal Space for Poverty Reduction in Ecuador
Author:
Publisher: World Bank Publications
Total Pages: 283
Release: 2005-01-01
Genre: Business & Economics
ISBN: 0821362569

This publication reviews Ecuador's fiscal management and public expenditure policies in the context of its development and poverty reduction goals. Findings include that the country's impressive fiscal performance of 2003 is encouraging but fragile, as several structural bottlenecks could impede fiscal discipline and recovery. Reversing poverty trends is critical for the country's stability, and this can only be achieved with well-targeted, effective and efficient pro-poor programmes.

Social Protection Goals in East Asia

Social Protection Goals in East Asia
Author: Mukul G. Asher
Publisher: Routledge
Total Pages: 219
Release: 2018-04-09
Genre: Business & Economics
ISBN: 1351867776

The book examines the conceptual, economic, and fiscal impact(s) of the Social Protection Floor (SPF) initiative of the International Labor Organisation (ILO) and other policy influencers by first critically examining the methodologies used by the international agencies to estimate the fiscal costs of designated minimum package(s) of social protection programs. The book also briefly reviews the methodologies used and usefulness of the Social Protection Index (SPI) of the Asian Development Bank (ADB). Second, the book analyses strategies and specific initiatives used by the selected East Asian countries (China, India, Indonesia, the Philippines, Thailand, and Vietnam), designed to progress towards the social protection goals underlying the Social Development Goals (SDGs) adopted by the United Nations in September 2015, and endorsed by the countries covered in this book. Finally, the book provides a framework for generating fiscal space to fund the social protection programs and initiatives. The country chapters utilise this framework in the context of each specific country to suggest generating fiscal space.

Assessing Chile's Pension System: Challenges and Reform Options

Assessing Chile's Pension System: Challenges and Reform Options
Author: Samuel Pienknagura
Publisher: International Monetary Fund
Total Pages: 52
Release: 2021-09-10
Genre: Business & Economics
ISBN: 151359611X

Chile’s pension system came under close scrutiny in recent years. This paper takes stock of the adequacy of the system and highlights its challenges. Chile’s defined contribution system was quite influential when introduced, and was taken as an example by other countries. However, it is now delivering low replacement rates relative to OECD peers, as its parameters did not adapt over time to changing demographics and global returns, while informality persists in the labor market. In the absence of reforms, the system’s inability to deliver adequate outcomes for a large share of participants will continue to magnify, as demographic trends and low global interest rates will continue to reduce replacement rates. In addition, recent legislation allowing for pension savings withdrawals to counter the effects from the COVID-19 pandemic, is projected to further reduce replacement rates and increase fiscal costs. A substantial improvement in replacement rates is feasible, via a reform that raises contribution rates and the retirement age, coupled with policies that increases workers’ contribution density.

The Routledge Handbook of the Economics of Ageing

The Routledge Handbook of the Economics of Ageing
Author: David E. Bloom
Publisher: Taylor & Francis
Total Pages: 799
Release: 2023-08-16
Genre: Business & Economics
ISBN: 1000812774

Ageing populations pose some of the foremost global challenges of this century. Drawing on an international pool of scholars, this cutting-edge Handbook surveys the micro, macro and institutional aspects of the economics of ageing. Structured in seven parts, the volume addresses a broad range of themes, including health economics, labour economics, pensions and social security, generational accounting, wealth inequality and regional perspectives. Each chapter combines a succinct overview of the state of current research with a sketch of a promising future research agenda. This Handbook will be an essential resource for advanced students, researchers and policymakers looking at the economics of ageing across the disciplines of economics, demography, public policy, public health and beyond. Chapter 37 of this book is freely available as a downloadable Open Access PDF at http://www.taylorfrancis.com under a Creative Commons Attribution (CC-BY) 4.0 license.