01829cas a2200253 a 4500 AALejournalIMF009497 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451867602 1018-5941 BD-DhAAL BD-DhAAL Kumar, Manmohan. Global Aging Pressures : Impact of Fiscal Adjustment, Policy Cooperation, and Structural Reforms / Manmohan Kumar, Dennis Botman. Washington, D.C. : International Monetary Fund, 2007. 1 online resource (58 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 Demographic pressures will materialize in many economies over the next few decades. We examine the macroeconomic impact of alternative fiscal adjustment and structural reform strategies to address these global aging pressures using the IMF's Global Fiscal Model (GFM). The results suggest substantial spillover effects of aging through international financial channels. To maintain sustainability, fiscal adjustment needs to be broad-based, while avoiding increases in direct taxes. There are substantial benefits from fiscal cooperation, while negative growth effects can be offset by complementary structural reforms in product and labor markets with the benefits accruing early and to all incomegroups. Mode of access: Internet Botman, Dennis. IMF Working Papers; Working Paper ; No. 2007/196 Full text available on IMF http://elibrary.imf.org/view/journals/001/2007/196/001.2007.issue-196-en.xml IMF e-Library