Will social security and medicare remain viable as the U.S. population is aging?
In: Carnegie Rochester Conference series on public policy: a bi-annual conference proceedings, Band 50, S. 55-60
ISSN: 0167-2231
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In: Carnegie Rochester Conference series on public policy: a bi-annual conference proceedings, Band 50, S. 55-60
ISSN: 0167-2231
In: International journal of public administration, Band 16, Heft 5, S. 713-746
ISSN: 1532-4265
In: Journal of Monetary Economics, Band 28, Heft 3, S. 391-410
In: Contemporary economic policy: a journal of Western Economic Association International, Band 9, Heft 3, S. 1-11
ISSN: 1465-7287
Governments may be unable to sustain large budget deficits indefinitely. Investors may impose limits on the amount of government debt—relative to gross national product (GNP)—they are willing to hold and thus limit the size of the deficit a government can sustain. The size of sustainable nominal deficits, then, would depend on the growth rate of nominal GNP. Reasonable assumptions regarding the GNP growth rate imply that the federal government can main tain its debt/GNP ratio at historically typical levels if it runs deficits of $175 billion in the near term and even larger amounts during future years.
In: Journal of Monetary Economics, Band 21, Heft 1, S. 155-160
In: Journal of Monetary Economics, Band 16, Heft 3, S. 329-351
In: The journal of business, Band 54, Heft 2, S. 191
ISSN: 1537-5374
In: FRB Atlanta Working Paper No. 2014-18
SSRN
Working paper
In: Journal of economic dynamics & control, Band 57, S. 1-23
ISSN: 0165-1889
Japan is in the midst of a demographic transition that is both rapid and large by international standards. As recently as 1990, Japan had the youngest population among the Group of 6 large, developed countries. However, the combined effects of aging of the baby boomer generation and low fertility rates have produced very rapid aging. Japan now finds itself with the oldest population among the Group of 6, and its population will continue to age at a rapid pace in future years. Aging is already placing a burden on government finances, and Japan's ability to confront the negative fiscal implications of future aging is constrained by its very high debt-to-GDP ratio. We find that Japan faces a severe fiscal crisis if remedial action is not undertaken soon, and we analyze alternative strategies for correcting Japan's fiscal imbalances.
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In: Journal of Monetary Economics, Band 22, Heft 2, S. 257-278
SSRN
Working paper