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Population Aging

Population aging is primarily the result of past declines in fertility, which produced a decades long period in which the ratio of dependents to working age adults was reduced. Rising old-age dependency in many countries represents the inevitable passing of this 'demographic dividend'. Societies use three methods to transfer resources to people in dependent age groups: government, family, and personal saving. In developed countries, families are predominant in supporting children, while government is the main source of support for the elderly. The most important means by which aging will affect aggregate output is the distortion from taxes to fund PAYGO pensions [NBER WP].

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Paper provided by Brown University, Department of Economics in its series Working Papers with number 2006-09.

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Date of creation: 2006
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Handle: RePEc:bro:econwp:2006-09
Contact details of provider: Postal: Department of Economics, Brown University, Providence, RI 02912

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  1. repec:fth:harver:1490 is not listed on IDEAS
  2. Robin Brooks, 2003. "Population Aging and Global Capital Flows in a Parallel Universe," IMF Staff Papers, Palgrave Macmillan, vol. 50(2), pages 3.
  3. James M. Poterba, 2001. "Demographic Structure And Asset Returns," The Review of Economics and Statistics, MIT Press, vol. 83(4), pages 565-584, November.
  4. Andrew Mason & Ronald Lee & An-Chi Tung & Mun-Sim Lai & Tim Miller, 2006. "Population Aging and Intergenerational Transfers: Introducing Age into National Accounts," NBER Working Papers 12770, National Bureau of Economic Research, Inc.
  5. Edward C. Prescott, 2003. "Why do Americans work so much more than Europeans?," Staff Report 321, Federal Reserve Bank of Minneapolis.
  6. Weil, David N, 1994. "The Saving of the Elderly in Micro and Macro Data," The Quarterly Journal of Economics, MIT Press, vol. 109(1), pages 55-81, February.
  7. Kyung-Mook Lim & David N. Weil, 2003. "The Baby Boom and the Stock Market Boom," Working Papers 2003-07, Brown University, Department of Economics.
  8. David Weil & Heinrich Hock, 2006. "The Dynamics of the Age Structure, Dependency, and Consumption," Working Papers 2006-08, Brown University, Department of Economics.
  9. Douglas W. Elmendorf & Louise M. Sheiner, 2000. "Should America save for its old age? Population aging, national saving, and fiscal policy," Finance and Economics Discussion Series 2000-03, Board of Governors of the Federal Reserve System (U.S.).
  10. David N. Weil, 1999. "Population Growth, Dependency, and Consumption," American Economic Review, American Economic Association, vol. 89(2), pages 251-255, May.
  11. Douglas W. Elmendorf & Louise M. Sheiner, 2000. "Should America Save for Its Old Age? Fiscal Policy, Population Aging, and National Saving," Journal of Economic Perspectives, American Economic Association, vol. 14(3), pages 57-74, Summer.
  12. Ronald D. Lee, . "A CrossCultural Perspective on Intergenerational Transfers and the Economic Life Cycle," Working Papers _001, University of California at Berkeley, Demography of Aging.
  13. Jagadeesh Gokhale & Kent Smetters, 2006. "Fiscal and Generational Imbalances: An Update," NBER Chapters, in: Tax Policy and the Economy, Volume 20, pages 193-223 National Bureau of Economic Research, Inc.
  14. Gary Burtless, 2006. "Cross-National Evidence on the Burden of Age-Related Public Transfers and Health Benefits," Working Papers, Center for Retirement Research at Boston College wp2006-6, Center for Retirement Research, revised Feb 2006.
  15. Kathleen McGarry & Robert F. Schoeni, 1998. "Social Security, Economic Growth, and the Rise in Independence of Elderly Widows in the 20th Century," NBER Working Papers 6511, National Bureau of Economic Research, Inc.
  16. Cutler, D.M. & Poterba, J.M. & Sheiner, L.M. & Summers, L.H., 1990. "An Aging Society: Opportunity Or Challenge," Working papers 553, Massachusetts Institute of Technology (MIT), Department of Economics.
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