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Fiscal Accountability and Population Aging

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Fiscal Accountability and Population Aging

New Responses to New Challenges

9781800370463 Edward Elgar Publishing
Edited by Robert L. Clark, Professor of Economics and Professor of Management, Innovation and Entrepreneurship, North Carolina State University, US, YoungWook Lee, Korea Development Institute (KDI), South Korea and Andrew Mason, Professor of Economics, University of Hawaii at Manoa and Senior Fellow, Population and Health Studies, East-West Center, Hawaii, US
Publication Date: March 2021 ISBN: 978 1 80037 046 3 Extent: c 288 pp
Focusing on the developing economic challenges confronting Korea and the US in response to the aging of their populations, this timely book examines how public policies are evolving in light of demographic changes, the impact of aging on governmental expenditures, and transitions in the labor force associated with aging.

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Focusing on the developing economic challenges confronting Korea and the US in response to the aging of their populations, this timely book examines how public policies are evolving in light of demographic changes, the impact of aging on governmental expenditures, and transitions in the labor force associated with aging.
 
International contributors comparatively analyze government approaches to population aging, illustrating the similar challenges faced across nations. Chapters draw attention to those particular issues that public policy plans must surmount, including funding pressures on retirement plans and the effects of an aging labor force on economic growth and productivity. They offer evidence on the scale of these challenges in Korea and the US and empirically evaluate how governments, employers, and individuals may respond to these issues in the years to come. Addressing fiscal sustainability and key social security programs, including the implications of the 2015 Korean pension reform and the economic difficulties entailed by the future of Medicare, this book investigates the implications of managing and sustaining welfare for an aging population.
 
This cutting-edge book will be ideal reading for economists focusing on public policy and welfare programs, benefiting from the comparative approach to fiscal accountability and sustainability. It will also appeal to practitioners and policymakers seeking insights into the consequences of an aging population and hoping to develop innovative methods and approaches to welfare.
Critical Acclaim
‘Population aging tends to increase government expenditures and reduce tax revenues, thus jeopardizing fiscal sustainability. Therefore, aging urgently strengthens the case for strengthening fiscal accountability, which is indispensable for fiscal sustainability. This comprehensive book by world-class experts is a must-read for all policymakers, researchers, and general readers interested in the link between demographic change and the health of public finances.’
– Donghyun Park, Asian Development Bank, Philippines

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eISBN: 978 1 80037 047 0
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