01811cas a2200253 a 4500 AALejournalIMF004051 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451863550 1018-5941 BD-DhAAL BD-DhAAL Faruqee, Hamid. Macroeconomic Effects and Policy Challenges of Population Aging / Hamid Faruqee, Natalia Tamirisa. Washington, D.C. : International Monetary Fund, 2006. 1 online resource (23 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper simulates the macroeconomic effects of population aging in a dynamic overlapping generations model of a small open economy. The model is calibrated to data for the Czech Republic, where population aging is proceeding at a pace comparable to that in other advanced countries in Europe. Simulations show that population aging is likely to slow economic growth and improvements in living standards. Although reforms to raise labor force participation and productivity growth can mitigate these adverse effects, they are unlikely to eliminate the need for fiscal reforms. The budget will come under pressure from rising age-related expenditures, and consolidation will be needed to preserve debt sustainability. Mode of access: Internet Tamirisa, Natalia. IMF Working Papers; Working Paper ; No. 2006/095 Full text available on IMF http://elibrary.imf.org/view/journals/001/2006/095/001.2006.issue-095-en.xml IMF e-Library