Population Age Structure and the Budget Deficit
The author focuses on the effects of age structure changes on the size of budget deficits of national governments. More specifically, he determines whether differences in age structure can account for the observed differences in budget deficits acr...
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| Format: | Policy Research Working Paper |
| Language: | English en_US |
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World Bank, Washington, D.C.
2013
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| Online Access: | http://documents.worldbank.org/curated/en/2004/10/5278714/population-age-structure-budget-deficit http://hdl.handle.net/10986/14232 |
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okr-10986-142322021-04-23T14:03:21Z Population Age Structure and the Budget Deficit Chen, Derek H. C. ACCOUNTING ANNUAL OBSERVATIONS BOND ISSUES BORROWING BUDGET DEFICITS BUDGET SURPLUS CENTRAL GOVERNMENTS CONSTANT RETURNS TO SCALE CONSUMPTION INCREASES CROWDING OUT DEBT DEBT FINANCING DEBT INTEREST DEBT SERVICING DISPOSABLE INCOME DISTRIBUTION OF INCOME DISTRIBUTION OF WEALTH ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMICS EMPIRICAL EVIDENCE EQUILIBRIUM EVASION EXPORTS FISCAL DEFICITS FISCAL POLICY FULL EMPLOYMENT GDP GDP PER CAPITA GENERAL EQUILIBRIUM MODEL GINI COEFFICIENT GOVERNMENT BONDS GOVERNMENT DEBT GOVERNMENT EXPENDITURES GROWTH RATE HEALTH PROBLEMS IMPORTS INCOME DISTRIBUTION INFLATION INTEREST PAYMENTS INTEREST RATE INTEREST RATES LABOR FORCE LABOR INPUTS LESS DEVELOPED COUNTRIES NATIONAL GOVERNMENTS OPEN ECONOMIES OPTIMIZATION OVERLAPPING GENERATIONS MODEL PER CAPITA INCOME POLITICAL ECONOMY POPULATION GROWTH PRESENT VALUE PRODUCTION FUNCTION PRODUCTIVITY PUBLIC DEBT PUBLIC EXPENDITURE PUBLIC EXPENDITURES PUBLIC GOODS PUBLIC REVENUES REAL GDP REAL INTEREST RATE REDISTRIBUTIVE EFFECTS RETIREMENT SAVINGS SEIGNIORAGE SOCIAL EXPENDITURE TAX TAX COLLECTION TAX REVENUE TAX REVENUES TAX SYSTEMS TAXATION TOTAL REVENUE VOTERS WAGE RATES WAGES WEALTH The author focuses on the effects of age structure changes on the size of budget deficits of national governments. More specifically, he determines whether differences in age structure can account for the observed differences in budget deficits across countries as well as across time. By way of an extension of the untested theory of negative bequest motives advocated by Cukierman and Meltzer (1989), the author argues that the commonly accepted notion that population aging tends to increase the budget deficits of economies is theoretically consistent. However, preliminary results from country and time fixed-effects panel regressions, estimated from 1975 to 1992 over 55 industrial and developing countries, indicate statistical evidence for this postulation is present only in the developing countries but not in the industrial countries. 2013-06-27T16:07:20Z 2013-06-27T16:07:20Z 2004-10 http://documents.worldbank.org/curated/en/2004/10/5278714/population-age-structure-budget-deficit http://hdl.handle.net/10986/14232 English en_US Policy Research Working Paper;No.3435 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, D.C. Publications & Research :: Policy Research Working Paper Publications & Research |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCOUNTING ANNUAL OBSERVATIONS BOND ISSUES BORROWING BUDGET DEFICITS BUDGET SURPLUS CENTRAL GOVERNMENTS CONSTANT RETURNS TO SCALE CONSUMPTION INCREASES CROWDING OUT DEBT DEBT FINANCING DEBT INTEREST DEBT SERVICING DISPOSABLE INCOME DISTRIBUTION OF INCOME DISTRIBUTION OF WEALTH ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMICS EMPIRICAL EVIDENCE EQUILIBRIUM EVASION EXPORTS FISCAL DEFICITS FISCAL POLICY FULL EMPLOYMENT GDP GDP PER CAPITA GENERAL EQUILIBRIUM MODEL GINI COEFFICIENT GOVERNMENT BONDS GOVERNMENT DEBT GOVERNMENT EXPENDITURES GROWTH RATE HEALTH PROBLEMS IMPORTS INCOME DISTRIBUTION INFLATION INTEREST PAYMENTS INTEREST RATE INTEREST RATES LABOR FORCE LABOR INPUTS LESS DEVELOPED COUNTRIES NATIONAL GOVERNMENTS OPEN ECONOMIES OPTIMIZATION OVERLAPPING GENERATIONS MODEL PER CAPITA INCOME POLITICAL ECONOMY POPULATION GROWTH PRESENT VALUE PRODUCTION FUNCTION PRODUCTIVITY PUBLIC DEBT PUBLIC EXPENDITURE PUBLIC EXPENDITURES PUBLIC GOODS PUBLIC REVENUES REAL GDP REAL INTEREST RATE REDISTRIBUTIVE EFFECTS RETIREMENT SAVINGS SEIGNIORAGE SOCIAL EXPENDITURE TAX TAX COLLECTION TAX REVENUE TAX REVENUES TAX SYSTEMS TAXATION TOTAL REVENUE VOTERS WAGE RATES WAGES WEALTH |
| spellingShingle |
ACCOUNTING ANNUAL OBSERVATIONS BOND ISSUES BORROWING BUDGET DEFICITS BUDGET SURPLUS CENTRAL GOVERNMENTS CONSTANT RETURNS TO SCALE CONSUMPTION INCREASES CROWDING OUT DEBT DEBT FINANCING DEBT INTEREST DEBT SERVICING DISPOSABLE INCOME DISTRIBUTION OF INCOME DISTRIBUTION OF WEALTH ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMICS EMPIRICAL EVIDENCE EQUILIBRIUM EVASION EXPORTS FISCAL DEFICITS FISCAL POLICY FULL EMPLOYMENT GDP GDP PER CAPITA GENERAL EQUILIBRIUM MODEL GINI COEFFICIENT GOVERNMENT BONDS GOVERNMENT DEBT GOVERNMENT EXPENDITURES GROWTH RATE HEALTH PROBLEMS IMPORTS INCOME DISTRIBUTION INFLATION INTEREST PAYMENTS INTEREST RATE INTEREST RATES LABOR FORCE LABOR INPUTS LESS DEVELOPED COUNTRIES NATIONAL GOVERNMENTS OPEN ECONOMIES OPTIMIZATION OVERLAPPING GENERATIONS MODEL PER CAPITA INCOME POLITICAL ECONOMY POPULATION GROWTH PRESENT VALUE PRODUCTION FUNCTION PRODUCTIVITY PUBLIC DEBT PUBLIC EXPENDITURE PUBLIC EXPENDITURES PUBLIC GOODS PUBLIC REVENUES REAL GDP REAL INTEREST RATE REDISTRIBUTIVE EFFECTS RETIREMENT SAVINGS SEIGNIORAGE SOCIAL EXPENDITURE TAX TAX COLLECTION TAX REVENUE TAX REVENUES TAX SYSTEMS TAXATION TOTAL REVENUE VOTERS WAGE RATES WAGES WEALTH Chen, Derek H. C. Population Age Structure and the Budget Deficit |
| relation |
Policy Research Working Paper;No.3435 |
| description |
The author focuses on the effects of age
structure changes on the size of budget deficits of national
governments. More specifically, he determines whether
differences in age structure can account for the observed
differences in budget deficits across countries as well as
across time. By way of an extension of the untested theory
of negative bequest motives advocated by Cukierman and
Meltzer (1989), the author argues that the commonly accepted
notion that population aging tends to increase the budget
deficits of economies is theoretically consistent. However,
preliminary results from country and time fixed-effects
panel regressions, estimated from 1975 to 1992 over 55
industrial and developing countries, indicate statistical
evidence for this postulation is present only in the
developing countries but not in the industrial countries. |
| format |
Publications & Research :: Policy Research Working Paper |
| author |
Chen, Derek H. C. |
| author_facet |
Chen, Derek H. C. |
| author_sort |
Chen, Derek H. C. |
| title |
Population Age Structure and the Budget Deficit |
| title_short |
Population Age Structure and the Budget Deficit |
| title_full |
Population Age Structure and the Budget Deficit |
| title_fullStr |
Population Age Structure and the Budget Deficit |
| title_full_unstemmed |
Population Age Structure and the Budget Deficit |
| title_sort |
population age structure and the budget deficit |
| publisher |
World Bank, Washington, D.C. |
| publishDate |
2013 |
| url |
http://documents.worldbank.org/curated/en/2004/10/5278714/population-age-structure-budget-deficit http://hdl.handle.net/10986/14232 |
| _version_ |
1764430803634225152 |