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Study On The Long-term Impact Of Economic Globalization And Population Aging On Co2 Emissions In Oecd Nations

Nations that have a high tax-to-GDP ratio will locate it challenging to finance further old-age expenditure merely by raising extra taxes (Figure 1.two). Higher tax-to-GDP nations that will face high extra old-age expenditure, such as Austria, Belgium, Germany, Luxembourg, Norway and Slovenia could be especially vulnerable to the ageing of their population. Rising the tax burden additional to pay for the old-age expenditure, with no implementing more structural reforms, could exacerbate financial distortions. These nations, thus, have the strongest incentives to introduce structural reforms to prepare for the ageing of their populations. Population ageing will affect both central and sub-central...