Some Economic Consequences of Global Aging : A Discussion Note for the World Bank
The note describes the importance of population aging world-wide, clarifying its prevalence among middle- and low-income countries, which suggests that many developing countries are getting old before they are growing rich. The note then asks in wh...
| Main Authors: | , , |
|---|---|
| Format: | Working Paper |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2013
|
| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2010/12/13235535/some-economic-consequences-global-aging-discussion-note-world-bank http://hdl.handle.net/10986/13603 |
| id |
okr-10986-13603 |
|---|---|
| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ABORTION ADEQUATE HEALTH CARE ADVERSE EFFECTS ADVERSE SELECTION AGE DISTRIBUTION AGE GROUPS AGE POPULATIONS AGGREGATE DEMAND AGING AGING POPULATION BEHAVIOR CHANGE BIRTH RATES CAPITAL LABOR RATIO CHANGE IN POPULATION CHILD CARE CHILD MORTALITY CHILDBEARING CONSEQUENCES OF POPULATION CRISES DEATH RATES DEBT DECLINE IN BIRTH RATES DECLINES IN FERTILITY DECLINES IN MORTALITY DEMOGRAPHIC CHANGE DEMOGRAPHIC POLICIES DEMOGRAPHIC TRANSITION DEPENDENCY BURDEN DEPENDENCY RATIO DEPENDENCY RATIOS DEVELOPING COUNTRIES DEVELOPMENT ECONOMICS DISABILITY DISADVANTAGED GROUPS EARLY RETIREMENT ECONOMIC GROWTH ECONOMIC IMPLICATIONS ECONOMIC RESOURCES ECONOMICS EFFECTS OF POPULATION ELDERLY ELDERLY POPULATION EXTERNALITIES EXTERNALITY FAMILIES FAMILY POLICIES FEMALE LABOR FEMALE LABOR FORCE FERTILITY DECLINE FERTILITY DECLINES FERTILITY LEVELS FERTILITY RATE FERTILITY RATES FERTILITY TRANSITION FEWER CHILDREN FINANCIAL INSTITUTIONS FINANCIAL PLANNING FISCAL POLICY GLOBAL HEALTH GLOBAL POPULATION GOVERNMENT POLICIES GOVERNMENT PROGRAMS GROWTH RATES OF POPULATION HEALTH CARE HEALTH CARE COSTS HEALTH CARE EXPENDITURES HEALTH CARE SPENDING HEALTH COST HEALTH COSTS HEALTH EXPENDITURES HEALTH INSURANCE HEALTH POLICY HEALTH SERVICES HEALTH SERVICES RESEARCH HIGH FERTILITY HOME CARE HUMAN CAPITAL HUMAN DEVELOPMENT HUMANS HUSBANDS IMMIGRANT IMMIGRANTS IMMIGRATION IMMIGRATION POLICY IMPACT OF POPULATION IMPORTANCE OF POPULATION INCOME INCOME DISTRIBUTION INCOME SECURITY INFANT INTEREST RATES INTERVENTION INVESTMENT IN CHILDREN ISSUES OF POPULATION LABOR FORCE LABOR FORCE PARTICIPATION LABOR MARKETS LABOR PRODUCTIVITY LABOR SUPPLY LIFE CYCLE LIFE EXPECTANCY LIFE EXPECTANCY AT BIRTH LONG-TERM CARE LONGER LIFE LOW FERTILITY LOW-INCOME COUNTRIES LOWER FERTILITY MARKET FAILURES MEDICAL CARE MORAL HAZARD MORTALITY MORTALITY DECLINE MORTALITY DECLINES NUMBER OF CHILDREN NUMBER OF WORKERS NURSING NURSING HOME CARE NUTRITION OLD AGE OLD-AGE OLDER PEOPLE PENSION PLANS PENSIONS PHYSICAL DISABILITY POLITICAL ECONOMY POLITICAL SYSTEMS POPULATION AGE STRUCTURE POPULATION AND DEVELOPMENT POPULATION COUNCIL POPULATION DIVISION POPULATION ESTIMATES POPULATION GROWTH POPULATION PROJECTIONS PRODUCTIVITY PRODUCTIVITY GROWTH PUBLIC EDUCATION PUBLIC HEALTH PUBLIC HEALTH CARE PUBLIC HEALTH SPENDING PUBLIC POLICY RECREATIONAL ACTIVITIES REMITTANCES REPLACEMENT LEVEL RESPECT RETIREMENT RISING CONSUMPTION SEX SIBLINGS SOCIAL CONTRACTS SOCIAL INSTITUTIONS SOCIAL NORMS SOCIAL PROGRAMS SOCIAL SECURITY SOCIAL WELFARE TOTAL FERTILITY RATE UNITED NATIONS POPULATION DIVISION UNPAID FAMILY WORKERS WAGES WOMAN WORKFORCE WORKING-AGE POPULATION WORLD POPULATION YOUNG ADULTS YOUNG AGES YOUNG PEOPLE |
| spellingShingle |
ABORTION ADEQUATE HEALTH CARE ADVERSE EFFECTS ADVERSE SELECTION AGE DISTRIBUTION AGE GROUPS AGE POPULATIONS AGGREGATE DEMAND AGING AGING POPULATION BEHAVIOR CHANGE BIRTH RATES CAPITAL LABOR RATIO CHANGE IN POPULATION CHILD CARE CHILD MORTALITY CHILDBEARING CONSEQUENCES OF POPULATION CRISES DEATH RATES DEBT DECLINE IN BIRTH RATES DECLINES IN FERTILITY DECLINES IN MORTALITY DEMOGRAPHIC CHANGE DEMOGRAPHIC POLICIES DEMOGRAPHIC TRANSITION DEPENDENCY BURDEN DEPENDENCY RATIO DEPENDENCY RATIOS DEVELOPING COUNTRIES DEVELOPMENT ECONOMICS DISABILITY DISADVANTAGED GROUPS EARLY RETIREMENT ECONOMIC GROWTH ECONOMIC IMPLICATIONS ECONOMIC RESOURCES ECONOMICS EFFECTS OF POPULATION ELDERLY ELDERLY POPULATION EXTERNALITIES EXTERNALITY FAMILIES FAMILY POLICIES FEMALE LABOR FEMALE LABOR FORCE FERTILITY DECLINE FERTILITY DECLINES FERTILITY LEVELS FERTILITY RATE FERTILITY RATES FERTILITY TRANSITION FEWER CHILDREN FINANCIAL INSTITUTIONS FINANCIAL PLANNING FISCAL POLICY GLOBAL HEALTH GLOBAL POPULATION GOVERNMENT POLICIES GOVERNMENT PROGRAMS GROWTH RATES OF POPULATION HEALTH CARE HEALTH CARE COSTS HEALTH CARE EXPENDITURES HEALTH CARE SPENDING HEALTH COST HEALTH COSTS HEALTH EXPENDITURES HEALTH INSURANCE HEALTH POLICY HEALTH SERVICES HEALTH SERVICES RESEARCH HIGH FERTILITY HOME CARE HUMAN CAPITAL HUMAN DEVELOPMENT HUMANS HUSBANDS IMMIGRANT IMMIGRANTS IMMIGRATION IMMIGRATION POLICY IMPACT OF POPULATION IMPORTANCE OF POPULATION INCOME INCOME DISTRIBUTION INCOME SECURITY INFANT INTEREST RATES INTERVENTION INVESTMENT IN CHILDREN ISSUES OF POPULATION LABOR FORCE LABOR FORCE PARTICIPATION LABOR MARKETS LABOR PRODUCTIVITY LABOR SUPPLY LIFE CYCLE LIFE EXPECTANCY LIFE EXPECTANCY AT BIRTH LONG-TERM CARE LONGER LIFE LOW FERTILITY LOW-INCOME COUNTRIES LOWER FERTILITY MARKET FAILURES MEDICAL CARE MORAL HAZARD MORTALITY MORTALITY DECLINE MORTALITY DECLINES NUMBER OF CHILDREN NUMBER OF WORKERS NURSING NURSING HOME CARE NUTRITION OLD AGE OLD-AGE OLDER PEOPLE PENSION PLANS PENSIONS PHYSICAL DISABILITY POLITICAL ECONOMY POLITICAL SYSTEMS POPULATION AGE STRUCTURE POPULATION AND DEVELOPMENT POPULATION COUNCIL POPULATION DIVISION POPULATION ESTIMATES POPULATION GROWTH POPULATION PROJECTIONS PRODUCTIVITY PRODUCTIVITY GROWTH PUBLIC EDUCATION PUBLIC HEALTH PUBLIC HEALTH CARE PUBLIC HEALTH SPENDING PUBLIC POLICY RECREATIONAL ACTIVITIES REMITTANCES REPLACEMENT LEVEL RESPECT RETIREMENT RISING CONSUMPTION SEX SIBLINGS SOCIAL CONTRACTS SOCIAL INSTITUTIONS SOCIAL NORMS SOCIAL PROGRAMS SOCIAL SECURITY SOCIAL WELFARE TOTAL FERTILITY RATE UNITED NATIONS POPULATION DIVISION UNPAID FAMILY WORKERS WAGES WOMAN WORKFORCE WORKING-AGE POPULATION WORLD POPULATION YOUNG ADULTS YOUNG AGES YOUNG PEOPLE Lee, Ronald Mason, Andrew Cotlear, Daniel Some Economic Consequences of Global Aging : A Discussion Note for the World Bank |
| relation |
Health, Nutrition and Population (HNP)
discussion paper; |
| description |
The note describes the importance of
population aging world-wide, clarifying its prevalence among
middle- and low-income countries, which suggests that many
developing countries are getting old before they are growing
rich. The note then asks in what way population aging is an
economic problem and what are the specific challenges facing
developing countries in this process. The note argues
against the common, time-bomb perception?, and clarifies how
a simplistic extrapolation from the impact of aging on
single programs such as public pensions gives a misleading
impression about the more general macroeconomic consequences
of population aging, where numerous elements contribute to a
more nuanced result. The note briefly discusses various
topics of importance in the population aging debate,
including: intergenerational flows, social contracts, the
risk management element of old-age policies, and the impact
of aging on health care costs. The note seeks to share a
number of counterintuitive or simply non-intuitive facts,
including: (i) the large impact of declines in fertility on
population aging (often more important than increases in
longevity); (ii) the impact of increased life expectancy on
working age populations (often larger than among old age
populations); (iii) the positive impact of aging on capital
intensity; (iv) the need to include education in assessments
of intergenerational equity (these often simply look at who
pays for old-age pensions and health services); and (v) the
role of long-term care programs as insurance for risks faced
by young adults. |
| format |
Publications & Research :: Working Paper |
| author |
Lee, Ronald Mason, Andrew Cotlear, Daniel |
| author_facet |
Lee, Ronald Mason, Andrew Cotlear, Daniel |
| author_sort |
Lee, Ronald |
| title |
Some Economic Consequences of Global Aging : A Discussion Note for the World Bank |
| title_short |
Some Economic Consequences of Global Aging : A Discussion Note for the World Bank |
| title_full |
Some Economic Consequences of Global Aging : A Discussion Note for the World Bank |
| title_fullStr |
Some Economic Consequences of Global Aging : A Discussion Note for the World Bank |
| title_full_unstemmed |
Some Economic Consequences of Global Aging : A Discussion Note for the World Bank |
| title_sort |
some economic consequences of global aging : a discussion note for the world bank |
| publisher |
World Bank, Washington, DC |
| publishDate |
2013 |
| url |
http://documents.worldbank.org/curated/en/2010/12/13235535/some-economic-consequences-global-aging-discussion-note-world-bank http://hdl.handle.net/10986/13603 |
| _version_ |
1764423883823251456 |
| spelling |
okr-10986-136032021-04-23T14:03:08Z Some Economic Consequences of Global Aging : A Discussion Note for the World Bank Lee, Ronald Mason, Andrew Cotlear, Daniel ABORTION ADEQUATE HEALTH CARE ADVERSE EFFECTS ADVERSE SELECTION AGE DISTRIBUTION AGE GROUPS AGE POPULATIONS AGGREGATE DEMAND AGING AGING POPULATION BEHAVIOR CHANGE BIRTH RATES CAPITAL LABOR RATIO CHANGE IN POPULATION CHILD CARE CHILD MORTALITY CHILDBEARING CONSEQUENCES OF POPULATION CRISES DEATH RATES DEBT DECLINE IN BIRTH RATES DECLINES IN FERTILITY DECLINES IN MORTALITY DEMOGRAPHIC CHANGE DEMOGRAPHIC POLICIES DEMOGRAPHIC TRANSITION DEPENDENCY BURDEN DEPENDENCY RATIO DEPENDENCY RATIOS DEVELOPING COUNTRIES DEVELOPMENT ECONOMICS DISABILITY DISADVANTAGED GROUPS EARLY RETIREMENT ECONOMIC GROWTH ECONOMIC IMPLICATIONS ECONOMIC RESOURCES ECONOMICS EFFECTS OF POPULATION ELDERLY ELDERLY POPULATION EXTERNALITIES EXTERNALITY FAMILIES FAMILY POLICIES FEMALE LABOR FEMALE LABOR FORCE FERTILITY DECLINE FERTILITY DECLINES FERTILITY LEVELS FERTILITY RATE FERTILITY RATES FERTILITY TRANSITION FEWER CHILDREN FINANCIAL INSTITUTIONS FINANCIAL PLANNING FISCAL POLICY GLOBAL HEALTH GLOBAL POPULATION GOVERNMENT POLICIES GOVERNMENT PROGRAMS GROWTH RATES OF POPULATION HEALTH CARE HEALTH CARE COSTS HEALTH CARE EXPENDITURES HEALTH CARE SPENDING HEALTH COST HEALTH COSTS HEALTH EXPENDITURES HEALTH INSURANCE HEALTH POLICY HEALTH SERVICES HEALTH SERVICES RESEARCH HIGH FERTILITY HOME CARE HUMAN CAPITAL HUMAN DEVELOPMENT HUMANS HUSBANDS IMMIGRANT IMMIGRANTS IMMIGRATION IMMIGRATION POLICY IMPACT OF POPULATION IMPORTANCE OF POPULATION INCOME INCOME DISTRIBUTION INCOME SECURITY INFANT INTEREST RATES INTERVENTION INVESTMENT IN CHILDREN ISSUES OF POPULATION LABOR FORCE LABOR FORCE PARTICIPATION LABOR MARKETS LABOR PRODUCTIVITY LABOR SUPPLY LIFE CYCLE LIFE EXPECTANCY LIFE EXPECTANCY AT BIRTH LONG-TERM CARE LONGER LIFE LOW FERTILITY LOW-INCOME COUNTRIES LOWER FERTILITY MARKET FAILURES MEDICAL CARE MORAL HAZARD MORTALITY MORTALITY DECLINE MORTALITY DECLINES NUMBER OF CHILDREN NUMBER OF WORKERS NURSING NURSING HOME CARE NUTRITION OLD AGE OLD-AGE OLDER PEOPLE PENSION PLANS PENSIONS PHYSICAL DISABILITY POLITICAL ECONOMY POLITICAL SYSTEMS POPULATION AGE STRUCTURE POPULATION AND DEVELOPMENT POPULATION COUNCIL POPULATION DIVISION POPULATION ESTIMATES POPULATION GROWTH POPULATION PROJECTIONS PRODUCTIVITY PRODUCTIVITY GROWTH PUBLIC EDUCATION PUBLIC HEALTH PUBLIC HEALTH CARE PUBLIC HEALTH SPENDING PUBLIC POLICY RECREATIONAL ACTIVITIES REMITTANCES REPLACEMENT LEVEL RESPECT RETIREMENT RISING CONSUMPTION SEX SIBLINGS SOCIAL CONTRACTS SOCIAL INSTITUTIONS SOCIAL NORMS SOCIAL PROGRAMS SOCIAL SECURITY SOCIAL WELFARE TOTAL FERTILITY RATE UNITED NATIONS POPULATION DIVISION UNPAID FAMILY WORKERS WAGES WOMAN WORKFORCE WORKING-AGE POPULATION WORLD POPULATION YOUNG ADULTS YOUNG AGES YOUNG PEOPLE The note describes the importance of population aging world-wide, clarifying its prevalence among middle- and low-income countries, which suggests that many developing countries are getting old before they are growing rich. The note then asks in what way population aging is an economic problem and what are the specific challenges facing developing countries in this process. The note argues against the common, time-bomb perception?, and clarifies how a simplistic extrapolation from the impact of aging on single programs such as public pensions gives a misleading impression about the more general macroeconomic consequences of population aging, where numerous elements contribute to a more nuanced result. The note briefly discusses various topics of importance in the population aging debate, including: intergenerational flows, social contracts, the risk management element of old-age policies, and the impact of aging on health care costs. The note seeks to share a number of counterintuitive or simply non-intuitive facts, including: (i) the large impact of declines in fertility on population aging (often more important than increases in longevity); (ii) the impact of increased life expectancy on working age populations (often larger than among old age populations); (iii) the positive impact of aging on capital intensity; (iv) the need to include education in assessments of intergenerational equity (these often simply look at who pays for old-age pensions and health services); and (v) the role of long-term care programs as insurance for risks faced by young adults. 2013-05-29T13:19:00Z 2013-05-29T13:19:00Z 2010-12 http://documents.worldbank.org/curated/en/2010/12/13235535/some-economic-consequences-global-aging-discussion-note-world-bank http://hdl.handle.net/10986/13603 English en_US Health, Nutrition and Population (HNP) discussion paper; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Working Paper Publications & Research |