Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/205644
Authors: 
Buckle, Robert A
Cruickshank, Amy A
Year of Publication: 
2013
Series/Report no.: 
New Zealand Treasury Working Paper No. 13/20
Publisher: 
New Zealand Government, The Treasury, Wellington
Abstract: 
New Zealand, like many other countries, is experiencing a changing demographic profile from one dominated by young people during the 20th century to one where the population is more evenly distributed across age groups. This has implications for the economy and society, including the government's fiscal position in the future and for the sustainability of its spending programmes. This paper discusses the link between the government budget constraint and fiscal sustainability, how fiscal sustainability can be measured and why it's important. We also examine the Treasury's current approach to modelling the extent of fiscal adjustment required and options available to achieve this adjustment. The paper proposes criteria to evaluate potential policy changes to address these long-term fiscal challenges and suggests areas where further work could be worthwhile.
Subjects: 
Long-run fiscal sustainability
fiscal consolidation
public debt
public social expenditure
taxation
JEL: 
E61
E62
H68
ISBN: 
978-0-478-40370-1
Creative Commons License: 
https://creativecommons.org/licenses/by/4.0/
Document Type: 
Working Paper

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