Advanced Search
MyIDEAS: Login to save this paper or follow this series

Economic Costs of Population Aging

Contents:

Author Info

  • Frank T. Denton
  • Byron G. Spencer

Abstract

In just over three decades all those born during the post-war baby boom will be 65 and older, and the fraction of the population 'old' will be far greater than previously experienced in Canada, or indeed in any modern industrial nation. That prospect has given rise to major concerns about our ability as a society to meet the large anticipated additions to health care, pension, and other costs associated with the increase in the older population. However, a balanced view requires that attention be given to all publicly provided services, not only to those services used in large measure by the elderly, and also to privately provided goods and services, since the costs must be charged against the same national income in both cases. Beyond that, it is important to recognize that population change affects not only the demand side of the economy, but also the supply side, the nation's productive capacity. This paper reviews the literature to assess the magnitude of the prospective cost increases associated with the aging of the Canadian population and considers the practical implications for government programs and policies

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://socserv.mcmaster.ca/qsep/p/qsep339.PDF
Download Restriction: no

Bibliographic Info

Paper provided by McMaster University in its series Quantitative Studies in Economics and Population Research Reports with number 339.

as in new window
Length: 63 pages
Date of creation: Dec 1998
Date of revision:
Handle: RePEc:mcm:qseprr:339

Contact details of provider:
Postal: 1280 Main Street West, Hamilton, Ontario, L8S 4M4
Phone: (905) 525-9140 ext. 22765
Fax: (905) 521-8232
Email:
Web page: http://www.mcmaster.ca/economics/
More information through EDIRC

Related research

Keywords: population aging; economic costs; baby boom;

Other versions of this item:

Find related papers by JEL classification:

This paper has been announced in the following NEP Reports:

References

References listed on IDEAS
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.:
as in new window
  1. Feldstein, Martin S, 1974. "Social Security, Induced Retirement, and Aggregate Capital Accumulation," Journal of Political Economy, University of Chicago Press, vol. 82(5), pages 905-26, Sept./Oct.
  2. John Burbidge & James B. Davies, 1994. "Household Data on Saving Behavior in Canada," NBER Chapters, in: International Comparisons of Household Saving, pages 11-56 National Bureau of Economic Research, Inc.
  3. Echevarria, Cruz A, 1995. "On Age Distribution of Population, Government Expenditure and Fiscal Federalism," Journal of Population Economics, Springer, vol. 8(3), pages 301-13, August.
  4. Schieber, Sylvester J & Shoven, John B, 1996. "Social Security Reform: Around the World in 80 Ways," American Economic Review, American Economic Association, vol. 86(2), pages 373-77, May.
  5. Michael D. Hurd, 1993. "The Effect of Labor Market Rigidities on the Labor Force Behavior of Older Workers," NBER Working Papers 4462, National Bureau of Economic Research, Inc.
  6. Axel Borsch-Supan & Reinhold Schnabel, 1997. "Social Security and Retirement in Germany," NBER Working Papers 6153, National Bureau of Economic Research, Inc.
  7. Robert W. Hartman & Thomas J. Espenshade, 1994. "Can immigration slow U.S. population aging?," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 13(4), pages 759-768.
  8. Feldstein, Martin, 1996. "The Missing Piece in Policy Analysis: Social Security Reform," American Economic Review, American Economic Association, vol. 86(2), pages 1-14, May.
  9. Osberg, L., 1990. "Is It Retirement Or Unemployment? Constrained Labour Supply And Induced "Retirement" Among Older Workers," Department of Economics at Dalhousie University working papers archive 90-03, Dalhousie, Department of Economics.
  10. John Burbidge & Deborah Fretz & Michael R. Veall, 1998. "Canadian and American Saving Rates and the Role of RRSPs," Canadian Public Policy, University of Toronto Press, vol. 24(2), pages 259-263, June.
  11. Peter Diamond, 1996. "Public Provision of Pensions: The Doug Purvis Memorial Lecture," Canadian Public Policy, University of Toronto Press, vol. 22(1), pages 1-6, March.
  12. Frank T. Denton & Byron G. Spencer, 1997. "Demographic Trends, Labour Force Participation, and Long-term Growth," Quantitative Studies in Economics and Population Research Reports 334, McMaster University.
  13. James M. Poterba & Steven F. Venti & David A. Wise, 1996. "How Retirement Saving Programs Increase Saving," Journal of Economic Perspectives, American Economic Association, vol. 10(4), pages 91-112, Fall.
  14. Laurence J. Kotlikoff & Willi Leibfritz & Willi Leibfritz, 1999. "An International Comparison of Generational Accounts," NBER Chapters, in: Generational Accounting around the World, pages 73-102 National Bureau of Economic Research, Inc.
  15. Mitchell, Olivia S & Zeldes, Stephen P, 1996. "Social Security Privatization: A Structure for Analysis," American Economic Review, American Economic Association, vol. 86(2), pages 363-67, May.
  16. Gauthier, Hervé, 1991. "L’incidence du vieillissement démographique sur les dépenses sociales," L'Actualité Economique, Société Canadienne de Science Economique, vol. 67(1), pages 103-118, mars.
  17. F.T. Denton & B.G. Spencer, 1996. "How Old Is Old? revising the definition Based on Life Table Criteria," Quantitative Studies in Economics and Population Research Reports 316, McMaster University.
  18. John Burbidge, 1996. "Public Pensions in Canada," Independence and Economic Security of the Older Population Research Papers 1, McMaster University.
  19. Baker, Michael & Benjamin, Dwayne, 1999. "How do retirement tests affect the labour supply of older men?," Journal of Public Economics, Elsevier, vol. 71(1), pages 27-51, January.
  20. Paul Johnson, 1996. "Grey Horizons: Who Pays for Old Age in the 21st Century?," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 29(3), pages 261-271.
  21. Frank T. Denton & Christine H. Feaver & Byron G. Spencer, 1997. "Immigration, Labour Force, and the Age Structure of the Population," Independence and Economic Security of the Older Population Research Papers 24, McMaster University.
  22. Sheetal K. Chand & Albert Jaeger, 1996. "Aging Populations and Public Pension Schemes," IMF Occasional Papers 147, International Monetary Fund.
  23. Edward M. Gramlich, 1996. "Different Approaches for Dealing with Social Security," Journal of Economic Perspectives, American Economic Association, vol. 10(3), pages 55-66, Summer.
  24. Deborah Roseveare & Willi Leibfritz & Douglas Fore & Eckhard Wurzel, 1996. "Ageing Populations, Pension Systems and Government Budgets: Simulations for 20 OECD Countries," OECD Economics Department Working Papers 168, OECD Publishing.
  25. Frank T. Denton & Christine H. Feaver & Byron G. Spencer, 1996. "The Future Population of Canada and Its Age Distribution," Independence and Economic Security of the Older Population Research Papers 3, McMaster University.
  26. Jacques Henripin, 1994. "The Financial Consequences of Population Aging," Canadian Public Policy, University of Toronto Press, vol. 20(1), pages 78-94, March.
  27. Dennis Ahlburg & James Vaupel, 1990. "Alternative Projections of the U.S. population," Demography, Springer, vol. 27(4), pages 639-652, November.
  28. David K. Foot, 1984. "The Demographic Future of Fiscal Federalism in Canada," Canadian Public Policy, University of Toronto Press, vol. 10(4), pages 406-414, December.
  29. David M. Cutler & James M. Poterba & Louise M. Sheiner & Lawrence H. Summers, 1990. "An Aging Society: Opportunity or Challenge?," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 21(1), pages 1-74.
  30. Jonathan Gruber, 1999. "Social Security and Retirement in Canada," NBER Chapters, in: Social Security and Retirement around the World, pages 73-99 National Bureau of Economic Research, Inc.
  31. M. S. Marzouk, 1991. "Aging, Age-Specific Health Care Costs and the Future Health Care Burden in Canada," Canadian Public Policy, University of Toronto Press, vol. 17(4), pages 490-506, December.
  32. Chris Carroll & Lawrence H. Summers, 1987. "Why Have Private Saving Rates in the United States and Canada Diverged?," NBER Working Papers 2319, National Bureau of Economic Research, Inc.
  33. Martin Feldstein, 1995. "Would Privatizing Social Security Raise Economic Welfare?," NBER Working Papers 5281, National Bureau of Economic Research, Inc.
  34. repec:fth:harver:1490 is not listed on IDEAS
  35. Lee, Ronald & Tuljapurkar, Shripad, 1998. "Uncertain Demographic Futures and Social Security Finances," American Economic Review, American Economic Association, vol. 88(2), pages 237-41, May.
  36. Dave Turner & Claude Giorno & Alain de Serres & Ann Vourc'h & Pete Richardson, 1998. "The Macroeconomic Implications of Ageing in a Global Context," OECD Economics Department Working Papers 193, OECD Publishing.
  37. Ronald Lee & Shripad Tuljapurkar, . "Death and Taxes: How Longer Life Will Affect Social Security," Working Papers _004, University of California at Berkeley, Demography of Aging.
  38. Frank T. Denton & Byron G. Spencer, 1996. "Population Aging and the Maintenance of Social Support Systems," Independence and Economic Security of the Older Population Research Papers 9, McMaster University.
  39. Ronald Lee & Jonathan Skinner, 1999. "Will Aging Baby Boomers Bust the Federal Budget?," Journal of Economic Perspectives, American Economic Association, vol. 13(1), pages 117-140, Winter.
  40. Clark, Robert L & Kreps, Juanita & Spengler, Joseph J, 1978. "Economics of Aging: A Survey," Journal of Economic Literature, American Economic Association, vol. 16(3), pages 919-62, September.
  41. Jonathan Gruber & David Wise, 1997. "Social Security Programs and Retirement Around the World: Introduction and Summary of Papers by..," NBER Working Papers 6134, National Bureau of Economic Research, Inc.
  42. Vaupel, James W, 1998. "Demographic Analysis of Aging and Longevity," American Economic Review, American Economic Association, vol. 88(2), pages 242-47, May.
  43. Baker, Michael & Benjamin, Dwayne, 1999. "Early Retirement Provisions and the Labor Force Behavior of Older Men: Evidence from Canada," Journal of Labor Economics, University of Chicago Press, vol. 17(4), pages 724-56, October.
  44. Richard Disney, 1996. "Can We Afford to Grow Older?," MIT Press Books, The MIT Press, edition 1, volume 1, number 026204157x, December.
Full references (including those not matched with items on IDEAS)

Citations

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

Cited by:
  1. Ulrich Thießen & Konstantin A. Kholodilin & Boriss Siliverstovs, 2008. "Does Aging Influence Sectoral Employment Shares?: Evidence from Panel Data," Discussion Papers of DIW Berlin 785, DIW Berlin, German Institute for Economic Research.
  2. Frank T. Denton & Byron G. Spencer, 1999. "Population Aging and Its Costs: A Survey of the Issues and Evidence," Department of Economics Working Papers 1999-03, McMaster University.
  3. Marcelin Joanis & David Boisclair & Claude Montmarquette, 2004. "La santé au Québec : des options pour financer la croissance," CIRANO Project Reports 2004rp-04, CIRANO.
  4. Ulrich Thießen, 2007. "Aging and Structural Change," Discussion Papers of DIW Berlin 742, DIW Berlin, German Institute for Economic Research.
  5. Frank T. Denton & Byron G. Spencer, 1999. "Population Aging and Its Economic Costs: A Survey of the Issues and Evidence," Quantitative Studies in Economics and Population Research Reports 340, McMaster University.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:mcm:qseprr:339. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ().

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.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with 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 profile, as there may be some citations waiting for confirmation.

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