Chapter

Aging Populations, Pension Operations, Potential Economic Disappointment, and Its Allocation

Sylvester J. Schieber

in Demography and the Economy

Published by University of Chicago Press

Published in print January 2011 | ISBN: 9780226754727
Published online February 2013 | e-ISBN: 9780226754758 | DOI: http://dx.doi.org/10.7208/chicago/9780226754758.003.0009
Aging Populations, Pension Operations, Potential Economic Disappointment, and Its Allocation

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This chapter examines the demographic evolution of some advanced countries and predicts a visible slowdown in the growth of per capita gross domestic product (GDP). Pension policies can be considered as alternative methods for allocating the disappointing output due to the aging of the populations. Switching from pay-as-you-go funding for national Social Security systems to funded systems may not do much in terms of alleviating the disappointing levels of output growth. Finally, the chapter reviews the literature on the issue of whether demographics alone can lead to a dramatic decline in national saving rates and possibly a decline in asset values.

Keywords: aging populations; pension operations; potential economic disappointment; demographic evolution; advanced countries; per capita gross domestic product; GDP; pension policies; pay-as-you-go funding; national Social Security systems; national saving rates

Chapter.  16344 words.  Illustrated.

Subjects: Macroeconomics and Monetary Economics

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