Population Aging

21 Pages Posted: 18 May 2006 Last revised: 11 Sep 2010

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: April 2006

Abstract

Population aging is primarily the result of past declines in fertility, which produced a decades long 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 %u201Cdemographic dividend.%u201D 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.

Suggested Citation

Weil, David Nathan, Population Aging (April 2006). NBER Working Paper No. w12147. Available at SSRN: https://ssrn.com/abstract=896219

David Nathan Weil (Contact Author)

Brown University - Department of Economics ( email )

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