Population Ageing and Structural Adjustment
AbstractThe future effects of population ageing on the Australian economy have been widely canvassed in recent years, most notably in government reports concerned with its budgetary position. On the income side, they focus on how ageing affects labour supply and gross domestic product. On the expenditure side, they focus on how ageing affects various spending categories including education, health and aged care. This paper provides a complementary analysis in that it considers how the structure of the economy is likely to be affected by these influences. In particular, it analyses the effects on 64 skill groups, 81 occupations and 106 industries. The effects are modelled by comparing two economies: a base case in which population ageing takes place, and an alternative (counterfactual) economy in which the age structure of the population remains unchanged. The simulations are conducted using the MONASH applied general equilibrium model of the Australian economy and cover the period from 2004-05 to 2024-25. The paper pays particular attention to the implications of the analysis for economic policy.
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Bibliographic InfoArticle provided by Bankwest Curtin Economics Centre (BCEC), Curtin Business School in its journal Australian Journal of Labour Economics (AJLE).
Volume (Year): 11 (2008)
Issue (Month): 3 (September)
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Postal: GPO Box U1987, Perth WA 6845
Web page: http://business.curtin.edu.au/research/publications/journals/ajle/
More information through EDIRC
Computable General Equilibrium Models; Computable and Other Applied General Equilibrium Models; Demographic Trends and Forecasts; General Migration;
Other versions of this item:
- James Giesecke & G.A. Meagher, 2009. "Population Ageing and Structural Adjustment," Centre of Policy Studies/IMPACT Centre Working Papers g-181, Victoria University, Centre of Policy Studies/IMPACT Centre.
- C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models
- D58 - Microeconomics - - General Equilibrium and Disequilibrium - - - Computable and Other Applied General Equilibrium Models
- J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- James Giesecke & G.A. Meagher, 2008. "Modelling the Economic Effects of Population Ageing," Centre of Policy Studies/IMPACT Centre Working Papers g-172, Victoria University, Centre of Policy Studies/IMPACT Centre.
- Peter B. Dixon & Maureen T. Rimmer, 2006. "The Displacement Effect of Labour-Market Programs: MONASH Analysis," The Economic Record, The Economic Society of Australia, vol. 82(s1), pages S26-S40, 09.
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