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Population Aging and Long-Term Fiscal Sustainability in Austria

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  • Mr. Leif Lybecker Eskesen

Abstract

Austria faces significant population aging. This will increase public spending on pensions, health care, and long-term care, while tax and social security revenues will fall. This paper analyzes the fiscal burden facing Austria due to aging and the policy steps necessary to address it. The paper finds that Austria is not well prepared to meet the fiscal burden of aging and that fiscal sustainability is threatened, even under fairly optimistic assumptions about the effects of recent pension and labor market reforms. Consequently, to ensure long-term sustainability, pension reform must go further and other saving measures might also be necessary.

Suggested Citation

  • Mr. Leif Lybecker Eskesen, 2002. "Population Aging and Long-Term Fiscal Sustainability in Austria," IMF Working Papers 2002/216, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2002/216
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=16209
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    Cited by:

    1. Christian Keuschnigg & Mirela Keuschnigg, 2004. "Aging, Labor Markets, and Pension Reform in Austria," FinanzArchiv: Public Finance Analysis, Mohr Siebeck, Tübingen, vol. 60(3), pages 359-392, September.
    2. Mr. Lamin Y Leigh, 2006. "Hong Kong Special Administrative Region: Macroeconomic Impact of an Aging Population in a Highly Open Economy," IMF Working Papers 2006/087, International Monetary Fund.

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