Czech Republic: Selected Issues

Author: International Monetary Fund

Volume/Issue: Volume 2005 Issue 275

Publication date: August 2005

ISBN: 9781451810226

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Topics covered in this book

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Exports and Imports , Economics- Macroeconomics , Public Finance , Demography , ISCR , CR , monetary policy implication , chapter IV , financial asset , implications of capital account volatility , chapter II , age-earnings profile , Aging , Pension spending , Health care spending , Productivity , Financial statements , Global

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Summary

This Selected Issues paper on the Czech Republic presents an analysis of various aspects of population aging: its macroeconomic effects; impact on fiscal sustainability; and implications for private savings. The paper simulates the macroeconomic effects of population aging in the Czech Republic using an overlapping-generations model. It finds that aging can significantly weaken the outlook for economic growth and living standards. The paper evaluates the fiscal implications of aging using a generational-accounting framework. It also evaluates the monetary policy implications of capital account volatility—as the relative importance of portfolio flows increases.