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Tailoring social welfare and energy transition for an aging population

Author

Listed:
  • Li’ao Song

    (Heze University)

  • Cheng Jin

    (Shaoxing University)

Abstract

This study employs OECD panel data from 2005 to 2021 and utilizes the CS-ARDL (Cross-sectionally Augmented Autoregressive Distributed Lag) method to reveal a notable positive correlation between the Human Development Index (HDI) and pension income levels. A 1% increase in HDI corresponds to approximately 0.6% and 0.7% increases in short- and long-term pension income. Additionally, green energy deployment positively influences pensions, with a 1% increase leading to about 0.09% and 0.17% increases in the short and long term, respectively. Economic size (GDP) demonstrates a robust positive relationship, and ICT development significantly impacts pension income levels. Policymakers are advised to prioritize local green power generation, sustainable pension funds, and green loans to enhance the welfare of aging populations in OECD countries.

Suggested Citation

  • Li’ao Song & Cheng Jin, 2024. "Tailoring social welfare and energy transition for an aging population," Economic Change and Restructuring, Springer, vol. 57(2), pages 1-15, April.
    • Handle: RePEc:kap:ecopln:v:57:y:2024:i:2:d:10.1007_s10644-024-09634-9
    DOI: 10.1007/s10644-024-09634-9
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    References listed on IDEAS

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    More about this item

    Keywords

    Energy transformation; Elderly population; Human development; Welfare of pensions; OECD;
    All these keywords.

    JEL classification:

    • Q40 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - General
    • J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
    • F15 - International Economics - - Trade - - - Economic Integration
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions

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