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Population Aging

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Abstract

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 %u201Cdemographic dividend.%u201D 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.

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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
Handle: RePEc:bro:econwp:2006-09
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Department of Economics, Brown University, Providence, RI 02912

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Find related papers by JEL classification:
  • J10 - Labor and Demographic Economics - - Demographic Economics - - - General
  • J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts
  • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions

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  1. Julian L. Simon (ed.), 1997. "The economics of population," Books, Edward Elgar Publishing, volume 0, number 1076.
  2. Edward C. Prescott, 2004. "Why do Americans work so much more than Europeans?," Quarterly Review, Federal Reserve Bank of Minneapolis, issue Jul, pages 2-13.
  3. 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.
  4. David N. Weil, 1994. "The Saving of the Elderly in Micro and Macro Data," The Quarterly Journal of Economics, Oxford University Press, vol. 109(1), pages 55-81.
  5. Andrew Mason & Ronald Lee & An-Chi Tung & Mun-Sim Lai & Tim Miller, 2009. "Population Aging and Intergenerational Transfers: Introducing Age into National Accounts," NBER Chapters,in: Developments in the Economics of Aging, pages 89-122 National Bureau of Economic Research, Inc.
  6. 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.
  7. 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.
  8. David N. Weil, 1999. "Population Growth, Dependency, and Consumption," American Economic Review, American Economic Association, vol. 89(2), pages 251-255, May.
  9. Kyung-Mook Lim & David N. Weil, 2003. "The Baby Boom and the Stock Market Boom," Scandinavian Journal of Economics, Wiley Blackwell, vol. 105(3), pages 359-378, 09.
  10. James M. Poterba, 2001. "Demographic Structure And Asset Returns," The Review of Economics and Statistics, MIT Press, vol. 83(4), pages 565-584, November.
  11. Ronald D. Lee, "undated". "A CrossCultural Perspective on Intergenerational Transfers and the Economic Life Cycle," Working Papers _001, University of California at Berkeley, Demography of Aging.
  12. Robin Brooks, 2003. "Population Aging and Global Capital Flows in a Parallel Universe," IMF Staff Papers, Palgrave Macmillan, vol. 50(2), pages 1-3.
  13. 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.
  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. Heinrich Hock & David Weil, 2012. "On the dynamics of the age structure, dependency, and consumption," Journal of Population Economics, Springer;European Society for Population Economics, vol. 25(3), pages 1019-1043, July.
  16. repec:fth:harver:1490 is not listed on IDEAS
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