Fiscal Implications of Population Ageing

Vladimír Bezdìk, Kamil Dybzcak and Aleš Kreidl
Authors registered in the RePEc Author Service: Vladimir Bezdek ()

Czech Journal of Economics and Finance (Finance a uver), 2003, vol. 53, issue 11-12, 562-591

Abstract: The paper explores the long-term fiscal implications of population aging in the Czech Republic. The results, although bearing a significant margin of uncertainty due to the very long-term character of the projection exercise, do not impart encouraging fiscal outlooks for the Czech Republic. This is hardly surprising given that the Czech Republic is facing pronounced population ageing. Moreover, the fiscal position of the Czech Republic is presently very poor, in spite of its (still) low level of debt and debt interest payments. The Czech Republic?s high primary deficit will foster a rapid rise in debt irrespective of population ageing. Therefore, to cope with the expected fiscal pressures, it is necessary not only to overhaul the pension and health-care systems in the medium term, but also to immediately start an intensive strategy of consolidation aimed at significantly reducing the high primary deficit.

Keywords: ageing populations; fiscal policy; fiscal sustainability (search for similar items in EconPapers)
JEL-codes: E62 H11 H5 H6 H81 (search for similar items in EconPapers)
Date: 2003
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Persistent link: https://EconPapers.repec.org/RePEc:fau:fauart:v:53:y:2003:i:11-12:p:562-591

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