IDEAS home Printed from https://ideas.repec.org/a/bla/ecorec/v77y2001i237p117-134.html
   My bibliography  Save this article

Ageing, Optimal National Saving and Future Living Standards in Australia

Author

Listed:
  • Ross S. Guest
  • Ian M. McDonald

Abstract

Making allowance for the ageing structure of the population, this paper calculates the levels of optimal national saving and future living standards for Australia for the period 1999–2050. For this period, the optimal saving response to the ageing of the Australian population is for national saving to increase from its current level by 2.7 per cent of GDP by the year 2017 and then to decline to the year 2050. The implied growth of living standards is 1.20 per cent per year. Reduced immigration would reduce the rate of growth of living standards but reduced fertility would not.

Suggested Citation

  • Ross S. Guest & Ian M. McDonald, 2001. "Ageing, Optimal National Saving and Future Living Standards in Australia," The Economic Record, The Economic Society of Australia, vol. 77(237), pages 117-134, June.
    • Handle: RePEc:bla:ecorec:v:77:y:2001:i:237:p:117-134
    DOI: 10.1111/1475-4932.00008
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/1475-4932.00008
    Download Restriction: no
    File URL: https://libkey.io/10.1111/1475-4932.00008?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. repec:acb:cbeeco:2014-616 is not listed on IDEAS
    2. Creina Day & Steve Dowrick, 2004. "Ageing Economics: Human Capital, Productivity and Fertility," Agenda - A Journal of Policy Analysis and Reform, Australian National University, College of Business and Economics, School of Economics, vol. 11(1), pages 3-20.
    3. Mohsen Mehrara, 2011. "Health Expenditure and Economic growth: An ARDL Approach for the Case of Iran," Journal of Economics and Behavioral Studies, AMH International, vol. 3(4), pages 249-256.
    4. Kudrna, George & Tran, Chung & Woodland, Alan, 2019. "Facing Demographic Challenges: Pension Cuts Or Tax Hikes?," Macroeconomic Dynamics, Cambridge University Press, vol. 23(2), pages 625-673, March.
    5. Guest, Ross S., 2006. "Population ageing, capital mobility and optimal saving," Journal of Policy Modeling, Elsevier, vol. 28(1), pages 89-102, January.
    6. Hasan, Mohammad S., 2010. "The long-run relationship between population and per capita income growth in China," Journal of Policy Modeling, Elsevier, vol. 32(3), pages 355-372, May.
    7. Guest, Ross S. & McDonald, Ian M., 2001. "The volatility of the socially optimal level of investment," Journal of Policy Modeling, Elsevier, vol. 23(8), pages 901-928, November.
    8. Tran, Chung, 2018. "Temptation and taxation with elastic labor," Economic Modelling, Elsevier, vol. 70(C), pages 351-369.
    9. Guest, Ross S. & McDonald, Ian M., 2007. "Global GDP shares in the 21st century -- An equilibrium approach," Economic Modelling, Elsevier, vol. 24(6), pages 859-877, November.
    10. John Freebairn, 2007. "Some Policy Issues in Providing Retirement Incomes," Melbourne Institute Working Paper Series wp2007n06, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne.
    11. George Hondroyiannis, 2010. "Fertility Determinants and Economic Uncertainty: An Assessment Using European Panel Data," Journal of Family and Economic Issues, Springer, vol. 31(1), pages 33-50, March.
    12. Ian McDonald, 2005. "Intergenerational Equity," Agenda - A Journal of Policy Analysis and Reform, Australian National University, College of Business and Economics, School of Economics, vol. 12(1), pages 3-18.
    13. Hondroyiannis, George & Papapetrou, Evangelia, 2005. "Fertility and output in Europe: new evidence from panel cointegration analysis," Journal of Policy Modeling, Elsevier, vol. 27(2), pages 143-156, March.
    14. Ross S. Guest & Ian M. McDonald, 2010. "Other‐Regarding Uzawa Preferences And Living Standard Catch‐Up," Pacific Economic Review, Wiley Blackwell, vol. 15(1), pages 87-115, February.
    15. Kudrna, George & Tran, Chung & Woodland, Alan, 2015. "The dynamic fiscal effects of demographic shift: The case of Australia," Economic Modelling, Elsevier, vol. 50(C), pages 105-122.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:ecorec:v:77:y:2001:i:237:p:117-134. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: https://edirc.repec.org/data/esausea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.