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Taxation, Pensions, and Demographic Change

In: Handbook of the Economics of Population Aging

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  • Woodland, A.
Abstract
This chapter provides a review of some implications of demographic shift arising from population aging for fiscal policy, taxation policy, and social security settings. The key implications of population aging that have been forthcoming from the many national and international macroeconomic modeling studies are presented. These implications are that population aging will put significant stress on governments’ fiscal situations under current policy settings. Consideration of policy options to accommodate population aging leads to examination of age-dependent taxation, the means testing of social security benefits, general taxation and pension design, and the analysis of taxation policy over time. The chapter concludes with some comments on the nature of the literature reviewed and on possible directions for future research.

Suggested Citation

  • Woodland, A., 2016. "Taxation, Pensions, and Demographic Change," Handbook of the Economics of Population Aging, in: Piggott, John & Woodland, Alan (ed.), Handbook of the Economics of Population Aging, edition 1, volume 1, chapter 0, pages 713-780, Elsevier.
    • Handle: RePEc:eee:hapoch:v1_713
    DOI: 10.1016/bs.hespa.2016.09.005
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    More about this item

    Keywords

    Population aging; Taxation; Social security; Means testing; Age-dependent taxation; Optimal policy; Overlapping generations; Life cycle; E60; E17; H21; H30; H60; J11;
    All these keywords.

    JEL classification:

    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • E17 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Forecasting and Simulation: Models and Applications
    • H21 - Public Economics - - Taxation, Subsidies, and Revenue - - - Efficiency; Optimal Taxation
    • H30 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - General
    • H60 - Public Economics - - National Budget, Deficit, and Debt - - - General
    • J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts

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