01875cas a2200265 a 4500 AALejournalIMF009769 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451868890 1018-5941 BD-DhAAL BD-DhAAL Syed, Murtaza. Addressing Korea's Long-Term Fiscal Challenges / Murtaza Syed, Michael Skaarup, Tarhan Feyzioglu. Washington, D.C. : International Monetary Fund, 2008. 1 online resource (25 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 Korea is on the verge of an unprecedented demographic shift. In coming decades, rapid aging will transform it from one of the youngest populations in the OECD to among the oldest in record time. In turn, this shift will put tremendous pressure on the pension system and health and long-term care expenditures. This paper evaluates the impact of population aging on the long-term fiscal position in Korea, and assesses potential policy responses using the IMF's Global Fiscal Model. The paper finds that the key to maintaining a sound long-run fiscal position is to act early and with a range of policy tools, including pension reform, tax base broadening (and, if necessary, rate hikes), improved tax administration and some expenditure reallocation. Mode of access: Internet Feyzioglu, Tarhan. Skaarup, Michael. IMF Working Papers; Working Paper ; No. 2008/027 Full text available on IMF http://elibrary.imf.org/view/journals/001/2008/027/001.2008.issue-027-en.xml IMF e-Library