On the dynamics of the age structure, dependency, and consumption

Journal of Population Economics
Heinrich Hock, David N Weil

Abstract

We examine the effects of population aging due to declining fertility and rising elderly life expectancy on consumption possibilities in the presence of intergenerational transfers. Our analysis is based on a highly tractable continuous-time overlapping generations model in which the population is divided into three groups (youth dependents, workers, and elderly dependents) and lifecourse transitions take place in a probabilistic fashion. We show that the consumption-maximizing response to greater longevity in highly developed countries is an increase in fertility. However, with larger transfer payments, the actual fertility response will likely be the opposite, leading to further population aging.

References

Aug 1, 1992·Journal of Population Economics·A Cigno
Sep 28, 2002·Journal of Population Economics·B U Wigger
Feb 10, 2006·International Journal of Andrology·Jonathan GrantWilliam Butz
May 1, 2005·The American Economic Review·Alicia Adsera

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Citations

Oct 12, 2012·Zeitschrift für Gerontologie und Geriatrie·U Fachinger
Aug 29, 2018·PloS One·Martin FochmannJoachim Weimann

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