Aging And The Macroeconomy
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Aging And The Macroeconomy
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Author : National Research Council
language : en
Publisher: National Academies Press
Release Date : 2013-01-10
Aging And The Macroeconomy written by National Research Council and has been published by National Academies Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-01-10 with Social Science categories.
The United States is in the midst of a major demographic shift. In the coming decades, people aged 65 and over will make up an increasingly large percentage of the population: The ratio of people aged 65+ to people aged 20-64 will rise by 80%. This shift is happening for two reasons: people are living longer, and many couples are choosing to have fewer children and to have those children somewhat later in life. The resulting demographic shift will present the nation with economic challenges, both to absorb the costs and to leverage the benefits of an aging population. Aging and the Macroeconomy: Long-Term Implications of an Older Population presents the fundamental factors driving the aging of the U.S. population, as well as its societal implications and likely long-term macroeconomic effects in a global context. The report finds that, while population aging does not pose an insurmountable challenge to the nation, it is imperative that sensible policies are implemented soon to allow companies and households to respond. It offers four practical approaches for preparing resources to support the future consumption of households and for adapting to the new economic landscape.
Aging And The Macroeconomy
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Author :
language : en
Publisher:
Release Date : 2012
Aging And The Macroeconomy written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with Age distribution (Demography) categories.
The United States is in the midst of a major demographic shift. In the coming decades, people aged 65 and over will make up an increasingly large percentage of the population: The ratio of people aged 65+ to people aged 20-64 will rise by 80%. This shift is happening for two reasons: people are living longer, and many couples are choosing to have fewer children and to have those children somewhat later in life. The resulting demographic shift will present the nation with economic challenges, both to absorb the costs and to leverage the benefits of an aging population. Aging and the Macroeconomy: Long-Term Implications of an Older Population presents the fundamental factors driving the aging of the U.S. population, as well as its societal implications and likely long-term macroeconomic effects in a global context. The report finds that, while population aging does not pose an insurmountable challenge to the nation, it is imperative that sensible policies are implemented soon to allow companies and households to respond. It offers four practical approaches for preparing resources to support the future consumption of households and for adapting to the new economic landscape.
Population Aging Intergenerational Transfers And The Macroeconomy
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Author : Robert L. Clark
language : en
Publisher: Edward Elgar Publishing
Release Date : 2007-01-01
Population Aging Intergenerational Transfers And The Macroeconomy written by Robert L. Clark and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-01-01 with Social Science categories.
Population aging is a global phenomenon that influences not only the industrialized countries of Asia and the West, but also many middle- and low- income countries that have experienced rapid fertility decline and achieved long life expectancies. This book explores how workers and consumers are responding to population aging and examines how economic growth, generational equity, trade and international capital flows are influenced by population aging. The contributors draw on the experience of the developing and industrialized worlds and on countries in Asia, North America, and Europe. They offer new evidence about micro-level responses of labor force participation, earnings, and savings to actual and/or perceived demographic change. Their broad perspective on population aging spans the entire demographic transition and demonstrates the importance of effective policy response in the early stages of population aging. Also included are policy analyses that explore the use of tax policy, financial reform, and policies targeting immigration and procreation. This insightful study will prove invaluable to students and scholars of population economics, public sector economics, welfare economics, social economics, and public finance. Pension analysts and government policymakers will find the material of great practical use.
Macroeconomic Effects Of Prelected Population Aging In Industrial Countries
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Author : Mr.Paul R. Masson
language : en
Publisher: International Monetary Fund
Release Date : 1990-01-01
Macroeconomic Effects Of Prelected Population Aging In Industrial Countries written by Mr.Paul R. Masson and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990-01-01 with Business & Economics categories.
The effects of population aging are examined with the aid of a theoretical model and simulations of MULTIMOD. An older population will consume more of aggregate disposable income, require higher government expenditure, and decrease labor supply. These effects should raise real interest rates and lower the capital stock and output. Effects on current balances will depend on the relative speed and extent of aging. Simulations of projected demographic changes suggest that by 2025, real interest rates would be increased by several percentage points and net foreign assets increased in the United States, and decreased in Japan and Germany, as a result.
Population Aging And The Generational Economy
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Author : Ronald Demos Lee
language : en
Publisher: Edward Elgar Publishing
Release Date : 2011-01-01
Population Aging And The Generational Economy written by Ronald Demos Lee and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-01-01 with Social Science categories.
'While there already exists a crowded body of publications addressing the effect of an aging population on the economy, this monograph is most outstanding in presenting a global, in-depth analysis of the implications thereby generated for 23 developed and developing countries. . . Scholars, researchers, and practitioners everywhere will benefit immensely from this comprehensive work.' – H.I. Liebling, Choice 'Ron Lee and Andrew Mason's Population Aging and the Generational Economy is a demographic and economic tour-de-force. Their collaborative, intercontinental. . . study of aging, consumption, labor supply, saving, and private and public transfers is the place to go to understand global aging and its myriad and significant economic challenges and opportunities.' – Laurence Kotlikoff, Boston University, US 'The culmination of. . . work by Lee, Mason, and their collaborators from around the world to extend Samuelson's framework to accommodate realistic demography, empirical measurement of age-specific earnings, consumption, tax payments, and benefit receipts, the studies. . . demonstrate the power of this integrated economic-demographic framework to advance our understanding of critical public policy challenges faced by countries at different stages of demographic transition and population aging.' – Robert Willis, University of Michigan, US 'Lee and Mason have done scholars and practitioners a magnificent service by undertaking this comprehensive, compelling, and supremely innovative examination of the economic consequences of changes in population age structure. The book is a bona fide crystal ball. It will be a MUST READ for the next decade!' – David Bloom, Harvard School of Public Health, US 'Population Aging and the Generational Economy provides an encompassing account of what we know about population aging and the impact that this process will have on our economies. It does not confine itself to the advanced industrial countries, where aging has already been largely studied, but adopts a truly global perspective. I am sure it will become a key reference for researchers, students and those involved in policy-making in areas that are affected by population aging.' – Giuliano Bonoli, Swiss Graduate School of Public Administration (IDHEAP), Switzerland Over coming decades, changes in population age structure will have profound implications for the macroeconomy, influencing economic growth, generational equity, human capital, saving and investment, and the sustainability of public and private transfer systems. How the future unfolds will depend on key actors in the generational economy: governments, families, financial institutions, and others. This path-breaking book provides a comprehensive analysis of the macroeconomic effects of changes in population age structure across the globe. The result of a substantial seven-year research project involving over 50 economists and demographers from Africa, Asia, Europe, Latin America, and the United States, the book draws on a new and comprehensive conceptual framework – National Transfer Accounts – to quantify the economic lifecycle and economic flows across generations. It presents comprehensive estimates of both public and private economic flows between generations, and emphasizes the global nature of changes in population age structure that are affecting rich and poor countries alike. This unique and informative book will prove an invaluable reference tool for a wide-ranging audience encompassing students, researchers, and academics in fields such as demography, aging, public finance, economic development, macroeconomics, gerontology, and national income accounting; for policy-makers and advisers focusing on areas of the public sector such as education, health, pensions, other social security programs, tax policy, and public debt; and for policy analysts at international agencies such as the World Bank, the IMF, and the UN.
Macroeconomic Effects Of Projected Population Aging In Industrial Countries
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Author : Paul R. Masson
language : en
Publisher:
Release Date : 2008
Macroeconomic Effects Of Projected Population Aging In Industrial Countries written by Paul R. Masson and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with categories.
The effects of population aging are examined with the aid of a theoretical model and simulations of MULTIMOD. An older population will consume more of aggregate disposable income, require higher government expenditure, and decrease labor supply. These effects should raise real interest rates and lower the capital stock and output. Effects on current balances will depend on the relative speed and extent of aging. Simulations of projected demographic changes suggest that by 2025, real interest rates would be increased by several percentage points and net foreign assets increased in the United States, and decreased in Japan and Germany, as a result.
Macroeconomic Effects And Policy Challenges Of Population Aging
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Author : Hamid Faruqee
language : en
Publisher: International Monetary Fund
Release Date : 2006-04
Macroeconomic Effects And Policy Challenges Of Population Aging written by Hamid Faruqee and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-04 with Business & Economics categories.
This paper simulates the macroeconomic effects of population aging in a dynamic overlapping generations model of a small open economy. The model is calibrated to data for the Czech Republic, where population aging is proceeding at a pace comparable to that in other advanced countries in Europe. Simulations show that population aging is likely to slow economic growth and improvements in living standards. Although reforms to raise labor force participation and productivity growth can mitigate these adverse effects, they are unlikely to eliminate the need for fiscal reforms. The budget will come under pressure from rising age-related expenditures, and consolidation will be needed to preserve debt sustainability.
The Macroeconomic Impact Of Global Aging
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Author : Robert Stowe England
language : en
Publisher: Center for Strategic & International Studies
Release Date : 2002
The Macroeconomic Impact Of Global Aging written by Robert Stowe England and has been published by Center for Strategic & International Studies this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Aging categories.
Over the next 50 years the workforce in most developed nations will decline while the proportion of elderly will nearly double. The change is expected to lead to sluggish growth rates and to put a brake on rising living standards. This book reviews and analyzes major econometric studies of the macroeconomic impact of rising old-age dependency ratios. It also examines the potential for gains in productivity and technological innovations to counter the effect of global aging.
Hong Kong Special Administrative Region
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Author : Mr.Lamin Leigh
language : en
Publisher: International Monetary Fund
Release Date : 2006-03-01
Hong Kong Special Administrative Region written by Mr.Lamin Leigh and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-03-01 with Social Science categories.
Hong Kong SAR's population is aging rapidly. This paper concludes that, without a change in policies, aging could adversely affect growth and living standards. While higher labor productivity growth and increased migration of younger skilled workers from the Chinese mainland, would attenuate the economic impact of aging, they would not offset it fully. Aging will also put pressure on public finances, particularly as a result of rising health care costs. There is a relatively narrow window of opportunity to implement policies to lessen the impact of aging, given that the demographic effects could start setting in as early as 2015 when the working population's support ratio peaks. In recent years, the Hong Kong SAR authorities have been focusing on policies that could help limit the fiscal impact of aging, including continued expenditure restraint on non-age-sensitive areas, reform of health care financing (including introducing private health insurance system), and tax reforms.
The Age Of Aging
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Author : George Magnus
language : en
Publisher: John Wiley & Sons
Release Date : 2012-11-27
The Age Of Aging written by George Magnus and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-11-27 with Business & Economics categories.
The year 2008 marks the beginning of the baby boomer retirementavalanche just as the different demographics in advanced and mostdeveloping countries are becoming more pronounced. People areworrying again that developments in global population trends, foodsupply, natural resource availability and climate change raise thequestion as to whether Malthus was right after all. The Age of Aging explores a unique phenomenon for mankind and,therefore, one that takes us into uncharted territory. Low birthrates and rising life expectancy are leading to rapid aging and astagnation or fall in the number of people of working age inWestern societies. Japan is in pole position but will be joinedsoon by other Western countries, and some emerging marketsincluding China. The book examines the economic effects of aging,the main proposals for addressing the implications, and how agingsocieties will affect family and social structures, and the type ofenvironment in which the baby-boomers' children will grow up. The contrast between the expected old age bulge in Western nationsand the youth bulge in developing countries has importantimplications for globalization, and for immigration in Westerncountries - two topics already characterized by rising discontentor opposition. But we have to find ways of making bothglobalization and immigration work for all, for fear that failuremay lead us down much darker paths. Aging also brings newchallenges for the world to address in two sensitive areas, thepoliticization of religion and the management of internationalsecurity. Governments and global institutions will have to takegreater responsibilities to ensure that public policy responses areappropriate and measured. The challenges arising within aging societies, and the demographiccontrasts between Western and developing countries make for afractious world - one that is line with the much-debated 'declineof the West'. The book doesn't flinch from recognizing the ways inwhich this could become more visible, but also asserts that we canaddress demographic change effectively if governments andstrengthened international institutions are permitted a larger rolein managing change.