Population Aging

20 Pages Posted: 31 Mar 2006

See all articles by David N. Weil

David N. Weil

Brown University - Department of Economics; National Bureau of Economic Research (NBER)

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Date Written: March 2006


Population aging is primarily the result of past declines in fertility, which produced a decadeslong period in which the ratio of dependents to working age adults was reduced. Rising old-age dependency in many countries represents the inevitable passing of this "demographic dividend."

Societies use three methods to transfer resources to people in dependent age groups: government, family, and personal saving. In developed countries, families are predominant in supporting children, while government is the main source of support for the elderly. The most important means by which aging will affect aggregate output is the distortion from taxes to fund PAYGO pensions.

JEL Classification: J10, J11, H55

Suggested Citation

Weil, David Nathan, Population Aging (March 2006). Available at SSRN: https://ssrn.com/abstract=893608 or http://dx.doi.org/10.2139/ssrn.893608

David Nathan Weil (Contact Author)

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