Population Aging, Productivity, and Growth in Living Standards

William Scarth

Quantitative Studies in Economics and Population Research Reports from McMaster University

Abstract: Population aging creates both a problem (higher taxes on a small group of workers to finance higher public pension and health care costs) and automatic adjustments that help to address that problem. The prospect of longer retirement involves an increased incentive to invest in physical capital, and labour scarcity leads to higher pre-tax wages and an increased incentive to invest in human capital. Thus, productivity growth can be favourably affected by aging. The likely empirical magnitude of this beneficial effect is assessed in this paper.

Keywords: productivity; population aging (search for similar items in EconPapers)
JEL-codes: E27 J14 (search for similar items in EconPapers)
Pages: 20 pages
Date: 2003-02
New Economics Papers: this item is included in nep-lab
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:mcm:qseprr:380

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