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Population Aging: Facts, Challenges, and Responses

  • David E. Bloom

    ()

    (Harvard School of Public Health)

  • Axel Boersch-Supan

    ()

    (Mannheim Research Institute for the Economics of Aging)

  • Patrick McGee
  • Atsushi Seike
Registered author(s):

    The world’s population is growing older, leading us into uncharted demographic waters. There will be higher absolute numbers of elderly people, a larger share of elderly, longer healthy life expectancies, and relatively fewer numbers of working-age people. There are alarmist views – both popular and serious – in circulation regarding what these changes might mean for business and economic performance. But the effects of population aging are not straightforward to predict. Population aging does raise some formidable and fundamentally new challenges, but they are not insurmountable. These changes also bring some new opportunities, because people have longer, healthier lives, resulting in extended working years, and different capacities and needs. The key is adaptation on all levels: individual, organizational, and societal. This article explores some potentially useful responses from government and business to the challenges posed by aging.

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    Paper provided by Program on the Global Demography of Aging in its series PGDA Working Papers with number 7111.

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    Date of creation: May 2011
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    Handle: RePEc:gdm:wpaper:7111
    Contact details of provider: Web page: http://www.hsph.harvard.edu/pgda

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    1. John B. Shoven, 2010. "Demography and the Economy," NBER Books, National Bureau of Economic Research, Inc, number shov08-1, September.
    2. David E. Bloom & David Canning & Günther Fink & Jocelyn E. Finlay, 2007. "Fertility, Female Labor Force Participation, and the Demographic Dividend," NBER Working Papers 13583, National Bureau of Economic Research, Inc.
    3. David E. Bloom & David Canning & Günther Fink, 2010. "Implications of population ageing for economic growth," Oxford Review of Economic Policy, Oxford University Press, vol. 26(4), pages 583-612, Winter.
    4. Jonathan Gruber & David A. Wise, 1999. "Introduction to "Social Security and Retirement around the World"," NBER Chapters, in: Social Security and Retirement around the World, pages 1-35 National Bureau of Economic Research, Inc.
    5. James Poterba, 2004. "The Impact of Population Aging on Financial Markets," NBER Working Papers 10851, National Bureau of Economic Research, Inc.
    6. Axel BÖRSCH-SUPAN & Alexander LUDWIG, 2009. "Aging, Asset Markets, and Asset Returns: A View From Europe to Asia," Asian Economic Policy Review, Japan Center for Economic Research, vol. 4(1), pages 69-92.
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