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Population Aging: Facts, Challenges, and Responses

Author

Listed:
  • David E. Bloom

    (Harvard School of Public Health)

  • Axel Boersch-Supan

    (Mannheim Research Institute for the Economics of Aging)

  • Patrick McGee
  • Atsushi Seike

Abstract

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.

Suggested Citation

  • David E. Bloom & Axel Boersch-Supan & Patrick McGee & Atsushi Seike, 2011. "Population Aging: Facts, Challenges, and Responses," PGDA Working Papers 7111, Program on the Global Demography of Aging.
  • Handle: RePEc:gdm:wpaper:7111
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    References listed on IDEAS

    as
    1. 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.
    2. John B. Shoven, 2010. "Demography and the Economy," NBER Books, National Bureau of Economic Research, Inc, number shov08-1, September.
    3. 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, June.
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    5. David Bloom & David Canning & Günther Fink & Jocelyn Finlay, 2009. "Fertility, female labor force participation, and the demographic dividend," Journal of Economic Growth, Springer, vol. 14(2), pages 79-101, June.
    6. 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.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Costantini, Valeria & Sforna, Giorgia, 2020. "A dynamic CGE model for jointly accounting ageing population, automation and environmental tax reform. European Union as a case study," Economic Modelling, Elsevier, vol. 87(C), pages 280-306.
    2. Sarah Harper, 2014. "Introduction: conceptualizing social policy for the twenty-first-century demography," Chapters, in: International Handbook on Ageing and Public Policy, chapter 1, pages 1-10, Edward Elgar Publishing.
    3. Kyureghian, Gayaneh & Soler, Louis-Georges, 2016. "Life Cycle Consumption of Food: Evidence from French Data," 2016 Annual Meeting, July 31-August 2, Boston, Massachusetts 236785, Agricultural and Applied Economics Association.
    4. Mónica L. Azevedo & Óscar Afonso & Sandra T. Silva, 2017. "Endogenous Growth and Intellectual Property Rights: A North–South Modelling Proposal with Population Ageing," Australian Economic Papers, Wiley Blackwell, vol. 56(1), pages 72-94, March.
    5. Bairoliya, Neha & Miller, Ray, 2021. "Demographic transition, human capital and economic growth in China," Journal of Economic Dynamics and Control, Elsevier, vol. 127(C).
    6. van Dalen, H.P. & Henkens, K., 2015. "Why Demotion of Older Workers is a No-Go Area for Managers," Discussion Paper 2015-025, Tilburg University, Center for Economic Research.
    7. Velma Pijalovic & Lejla Lazovic-Pita & Almir Pestek, 2018. "The analysis of perceptions and attitudes related to ageing in the Federation of Bosnia and Herzegovina," Public Sector Economics, Institute of Public Finance, vol. 42(3), pages 255-278.
    8. Prettner, Klaus & Strulik, Holger, 2018. "Trade and productivity: The family connection redux," Journal of Macroeconomics, Elsevier, vol. 56(C), pages 276-291.
    9. Abidi, Hella & Klumpp, Matthias, 2014. "Demografischer Wandel und Industrie-Qualifikationsrahmen Logistik," ild Schriftenreihe 40, FOM Hochschule für Oekonomie & Management, Institut für Logistik- & Dienstleistungsmanagement (ild).
    10. Kyureghian, Gayaneh & Soler, Louis-Georges, 2017. "Life Cycle Consumption Of Food At Home: Facts From French Purchase Data," 2017 International Congress, August 28-September 1, 2017, Parma, Italy 260920, European Association of Agricultural Economists.
    11. Maryam Chehregosha & Amir Bastaminia & Fatemeh Vahidian & Azam Mohammadi & Aliakbar Aghaeinejad & Ensiyeh Jamshidi & Afsaneh Ghasemi, 2016. "Life Satisfaction Index among Elderly People Residing in Gorgan and Its Correlation with Certain Demographic Factors in 2013," Global Journal of Health Science, Canadian Center of Science and Education, vol. 8(8), pages 1-41, August.
    12. Nelya Rakhimova, 2018. "Aging with financial insecurity: social resilience and adaptation in urban areas of the United States," Natural Resources Forum, Blackwell Publishing, vol. 42(4), pages 227-242, November.
    13. Zaiceva, A. & Zimmermann, K.F., 2016. "Migration and the Demographic Shift," Handbook of the Economics of Population Aging, in: Piggott, John & Woodland, Alan (ed.), Handbook of the Economics of Population Aging, edition 1, volume 1, chapter 0, pages 119-177, Elsevier.
    14. Shogo Kudo & Emmanuel Mutisya & Masafumi Nagao, 2015. "Population Aging: An Emerging Research Agenda for Sustainable Development," Social Sciences, MDPI, Open Access Journal, vol. 4(4), pages 1-27, October.
    15. Renuga Nagarajan & Aurora A.C. Teixeira & Sandra T. Silva, 2013. "The impact of population ageing on economic growth: an in-depth bibliometric analysis," FEP Working Papers 505, Universidade do Porto, Faculdade de Economia do Porto.
    16. Mehri , N. & Messkoub, M. & Kunkel, S., 2019. "Trends, determinants and the implications of population aging in Iran," ISS Working Papers - General Series 646, International Institute of Social Studies of Erasmus University Rotterdam (ISS), The Hague.
    17. Mao, Hong & Ostaszewski, Krzysztof M. & Wang, Yuling, 2014. "Optimal retirement age, leisure and consumption," Economic Modelling, Elsevier, vol. 43(C), pages 458-464.

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    population; aging; longevity; fertility;
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