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Population Aging, Productivity, and Living Standards

In: The Review of Economic Performance and Social Progress 2002: Towards a Social Understanding of Productivity

Author

Listed:
  • William Scarth

    (Professor of Economics, McMaster University)

Abstract

In this chapter, William Scarth examines the relationship between population aging, productivity and growth in living standards and reaches a more optimistic conclusion about the effects of aging on productivity. Indeed, he finding that aging may in fact lead to increases in productivity, even if no policy initiative is taken. He argues that our economy possesses at least three adjustment mechanisms that insulate living standards from the adverse effects of an aging population.

Suggested Citation

  • William Scarth, 2002. "Population Aging, Productivity, and Living Standards," The Review of Economic Performance and Social Progress,in: Andrew Sharpe, Executive Director & France St-Hilaire, Vice-President , Research & Keith Banting, Di (ed.), The Review of Economic Performance and Social Progress 2002: Towards a Social Understanding of Productivity, volume 2 Centre for the Study of Living Standards;The Institutute for Research on Public Policy.
  • Handle: RePEc:sls:repsls:v:2:y:2002:bs
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    File URL: http://www.csls.ca/repsp/2/williamscarth.pdf
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    More about this item

    Keywords

    Aging; Ageing; Population Aging; Demography; Demographic Shift; Baby Boomers; Baby Boom; Dependence; Indebtedness; Debt; Investment; Productivity; Simulation; Growth; Consumption;

    JEL classification:

    • J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts
    • J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
    • E66 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General Outlook and Conditions

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