Economic Consequences of an Aging Population

Brief

Economic Consequences of an Aging Population

Abstract

The retirement of baby boomers and the increase in the share of elderly in the population will create economic and fiscal stresses beginning in the second decade of the 21st century. These demographic developments, if not offset by changes in household behavior and government fiscal policy, will reduce the number of workers in relation to the population needing support and lower the national saving rate. The result will be slower growth in national income and consumption after 2010.

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