Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/80208
Authors: 
Weil, David N.
Year of Publication: 
2006
Series/Report no.: 
Working Paper, Brown University, Department of Economics 2006-09
Abstract: 
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: 
J10
J11
H55
Document Type: 
Working Paper

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