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Population Aging and the Generational Economy
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The goal of this study is to improve our understanding of how changes
in population age structure are infl uencing national economies. Until
recently changes in age structure were favorable for most countries as
populations became increasingly concentrated in the working ages. For
some countries in Asia and most in Africa, this trend continues today. But
elsewhere – in the West, East Asia, and Latin America – the share of the
working- age population is in decline or soon will be, as the share of the
elderly population grows. Many concerns have been raised: bankruptcy
for publicly funded health care and pensions systems, slower economic
growth and possibly decline, unfair treatment of children vis- à- vis the
elderly, the collapse of fi nancial markets, and the burdening of future
generations, to name a few.
Eff ectively addressing the economic challenges of population aging
is especially diffi cult, for two reasons. The fi rst is that countries cannot
rely exclusively on their own experience because in any given country
changes in population age structure are occurring for the fi rst time.
Hence it is essential to learn from societies that have been the fi rst to
experience the age transition. The second problem is that many issues are
addressed in piecemeal fashion, relying on partial and incomplete data.
This study addresses this problem by relying on a newly developed system
of accounts, National Transfer Accounts. Of course, there are many
outstanding studies of these issues, and we draw upon them; but many
questions remain, and myths and misunderstandings persist about the
economic implications of changes in population age structure
Ronald Lee and Andrew Mason - Personal Name
1st Edition
978 1 55250 514 4
NONE
Population Aging and the Generational Economy
Economics
English
Ronald Lee and Andrew Mason
2011
1-617
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