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Fiscal challenges and inclusive growth in ageing societies

Author

Listed:
  • Dorothée Rouzet
  • Aida Caldera Sánchez
  • Theodore Renault
  • Oliver Roehn

Abstract

This paper was prepared in support of Japan’s G20 Presidency. It takes stock of ongoing and projected population ageing across G20 economies and its far-reaching implications for economic growth, productivity, inequality within and between generations and the sustainability of public finances. Rising old-age dependency ratios will put the financing of adequate pensions, health and long-term care under high pressure. The paper provides recommendations on policy responses to address ageing-related challenges and highlights good practices. A comprehensive approach is needed, tailored to each country’s institutional and policy settings and social preferences, and may span many areas of public policy: improving the design of public pensions, incentivising private savings, enhancing the efficiency of health care provision, expanding the coverage of social security systems, promoting employability and skills of older workers, and striving for a better labour market inclusion of women, youth and migrants.

Suggested Citation

  • Dorothée Rouzet & Aida Caldera Sánchez & Theodore Renault & Oliver Roehn, 2019. "Fiscal challenges and inclusive growth in ageing societies," OECD Economic Policy Papers 27, OECD Publishing.
    • Handle: RePEc:oec:ecoaab:27-en
    DOI: 10.1787/c553d8d2-en
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    Citations

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    Cited by:

    1. Uchida, Yuki & Ono, Tetsuo, 2022. "Politics of Public Education and Pension Reform with Endogenous Fertility," MPRA Paper 112748, University Library of Munich, Germany.
    2. Roberto Aringhieri & Patrick Hirsch & Marion S. Rauner & Melanie Reuter-Oppermanns & Margit Sommersguter-Reichmann, 2022. "Central European journal of operations research (CJOR) “operations research applied to health services (ORAHS) in Europe: general trends and ORAHS 2020 conference in Vienna, Austria”," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 30(1), pages 1-18, March.
    3. María del Carmen Ramos-Herrera & Simón Sosvilla-Rivero, 2020. "Fiscal Sustainability in Aging Societies: Evidence from Euro Area Countries," Sustainability, MDPI, vol. 12(24), pages 1-20, December.
    4. Pulok, Mohammad Habibullah & Hajizadeh, Mohammad, 2022. "Equity in the use of physician services in Canada's universal health system: A longitudinal analysis of older adults," Social Science & Medicine, Elsevier, vol. 307(C).
    5. Anna Kollerup & Jakob Kjellberg & Rikke Ibsen, 2022. "Ageing and health care expenditures: the importance of age per se, steepening of the individual-level expenditure curve, and the role of morbidity," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 23(7), pages 1121-1149, September.
    6. Ginevra Floridi & Benjamin E. Lauderdale, 2022. "Pairwise comparisons as a scale development tool for composite measures," Journal of the Royal Statistical Society Series A, Royal Statistical Society, vol. 185(2), pages 519-542, April.
    7. Takahiro Yoshida & Rim Er-rbib & Morito Tsutsumi, 2019. "Which Country Epitomizes the World? A Study from the Perspective of Demographic Composition," Sustainability, MDPI, vol. 11(22), pages 1-16, November.
    8. Corlet Walker, Christine & Druckman, Angela & Jackson, Tim, 2021. "Welfare systems without economic growth: A review of the challenges and next steps for the field," Ecological Economics, Elsevier, vol. 186(C).
    9. Lucia Granelli & Matteo Brunelli, 2022. "Comparing the Macroeconomic Policy Measures across the G20 The Crisis Response is a Long-Term Marathon," European Economy - Discussion Papers 158, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    10. Dalle, Axana & Lippens, Louis & Baert, Stijn, 2023. "Nothing Really Matters: Evaluating Demand-Side Moderators of Age Discrimination in Hiring," IZA Discussion Papers 16672, Institute of Labor Economics (IZA).
    11. Biao Geng & Daoning Wu & Chengshu Zhang & Wenbao Xie & Muhammad Aamir Mahmood & Qamar Ali, 2024. "How Can the Blue Economy Contribute to Inclusive Growth and Ecosystem Resources in Asia? A Comparative Analysis," Sustainability, MDPI, vol. 16(1), pages 1-22, January.

    More about this item

    Keywords

    ageing; employment; fiscal sustainability; health; inequality; long-term care; pensions; skills;
    All these keywords.

    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • H51 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Health
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies

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