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Aging, Public Budgets, and the Need for Policy Reform
Author(s) -
Elmeskov Jørgen
Publication year - 2004
Publication title -
review of international economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.513
H-Index - 58
eISSN - 1467-9396
pISSN - 0965-7576
DOI - 10.1111/j.1467-9396.2004.00445.x
Subject(s) - incentive , economics , public policy , public economics , population ageing , population , economic policy , microeconomics , economic growth , sociology , demography
Projections show that, without policy changes, population aging will lead to unsustainable developments in public budgets. Various policy options to address this challenge are reviewed. Particular emphasis is given to the incentives to retire early and the programs that generate these incentives. The requirements for labor markets to absorb an added supply of older workers are discussed.