Economics of population aging: the "graying" of Australia, Japan, and the United States

Abstract

This book examines the argument that demographic aging will cause serious economic problems particularly in developed countries using the examples of Australia Japan and the United States. After a brief review of the phenomenon of demographic aging the authors give a summary of the major economic programs offered to the aged. Extensive research is used to evaluate the concept of dependency ratios and to predict the impact on younger and older persons of future economic and demographic growth. This discussion then provides the basis for a review of evolving retirement policies in the three countries. Special attention is given to the way pension plans have been designed especially early and mandatory retirement policies. An assessment of the adequacy of retirement income follows. The final three chapters are devoted to policy options for the future given trends in demographic aging. (EXCERPT)