The Macroeconomic Impact of Global Aging
October 1, 2002
"A great and very useful summary of the state of the art--required reading for anyone who cares about growth in an aging world. Robert England makes us aware that aging is not only a threat to pension and health care financing; it is a huge and fundamental macroeconomic challenge for our societies."--Axel Borsch-Supan, Director, Institute for Economics and Public Policy, University of Mannheim
Over the next 50 years the workforce in most developed nations will decline while the proportion of elderly will nearly double. The change is expected to lead to sluggish growth rates and to put a brake on rising living standards. This book reviews and analyzes major econometric studies of the macroeconomic impact of rising old-age dependency ratios. It also examines the potential for gains in productivity and technological innovations to counter the effect of global aging.
Robert Stowe England is a journalist and the director of research for the CSIS Global Aging Initiative.