| Description |
1 online resource (50 pages) : illustrations |
| Series |
IMF working paper ; WP/98/14 |
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IMF working paper ; WP/98/14.
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| Summary |
This paper presents a set of generational accounts to contribute to the assessment of France's long-term fiscal position. Understanding the sustainability of fiscal policy in France from a generational perspective is important in many respects. France has one of the most extensive social security and welfare systems among the large industrialized countries; public expenditure on health as a share of GDP is the highest in Europe; and compared to other OECD countries, its pension outlays are also relatively large (Table 1). Not only are benefits high, but so is the level of taxation: taxes needed to finance social security funds have risen from less than 15 percent of wage income in 1950 to almost 50 percent in 1996. In recent years, there have been mounting concerns regarding the continuing viability of such an extensive social security system in general, and its unfunded pay-as-you-go pension schemes and universal health care in particular. Slower rates of economic growth and the prospective aging of the population have led to further concerns that the implied tax burden on younger (working) generations in the future will be too high, assuming the continuation of the general thrust of current policy settings. Projected trends of changes in the age structure reveal that an increasing number of retirees must be supported by a declining number of workers, with the old-age dependency ratio likely to rise from 0.35 in 1995 to 0.60 by 2030 (Tables 2 and 3) |
| Notes |
"February 1998." |
| Bibliography |
Includes bibliographical references (pages 48-50) |
| Notes |
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL |
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Print version record |
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digitized 2014 HathiTrust Digital Library committed to preserve pda MiAaHDL |
| Subject |
Generational accounting -- France
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Fiscal policy -- France
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Tax incidence -- France
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Social security -- France
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Fiscal policy
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Generational accounting
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Social security
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Tax incidence
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France
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| Form |
Electronic book
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| Author |
Dore, Ousmane
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International Monetary Fund. European I Department.
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| ISBN |
128160416X |
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9781281604163 |
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