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on Economics of Ageing |
| By: | David Amaglobeli; Hua Chai; Era Dabla-Norris; Kamil Dybczak; Mauricio Soto; Alexander F. Tieman |
| Abstract: | This SDN explores how demographic changes have affected and will affect public and private sector savings, highlighting the interaction between pension systems, labor markets, and demographic variables. |
| Keywords: | Savings;Pensions;Aging;Demographic transition;Health care spending;National income;Economic stabilization;Social safety nets;Economic growth;Demographics,Saving,Pension Spending,Demographic Trends and Forecasts,General,Social Security and Public Pensions,pension system,PAYG,national save,work age population,benefit ratio |
| Date: | 2019–01–15 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfsdn:2019/001&r=all |
| By: | Spijker, Jeroen |
| Abstract: | The main motivation of the article is to make health care decision makers more aware of the dynamic nature of population aging and how, in the context of improving survival and economic booms and busts, common ways of measuring it do not reflect the real financial burden of an old-age population, especially with respect to health care. A fixed age threshold is conventionally used to separate the “elderly” from the “working-age population”, usually age 65, as this has been the age at retirement for many years before recent legislative changes raising this age in many industrial countries. One could question, however, how useful fixed age thresholds are in a context of a 5-year increase in the life expectancy at age 65 over the last 50 years. Likewise, not everyone of working-age is actually employed, although over time more and more women have entered the work force or economic downturns lead to the loss of millions of jobs. Ageing indicators therefore also require more appropriate denominators. In this paper, several alternative indicators of population aging are therefore put forward that could supplement standard measurements and applied to the US. One of the conclusions of the paper is that it appears incorrect to assume that population aging itself will strain US health and social care systems as increasing health care costs are also driven by progress in medical knowledge and technology, costs of hospitalization and the increasing use of long-term care facilities. Moreover, since 1970 economic output, and even tax revenue, increased much faster than the proportion elderly (even in terms of the standard definition, i.e. ages 65+), despite economic downturns producing temporal declines. |
| Date: | 2019–05–12 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:vuaed&r=all |
| By: | Denis Guiot (DRM - Dauphine Recherches en Management - CNRS - Centre National de la Recherche Scientifique - Université Paris Dauphine-PSL); Marie Kerekes (DRM - Dauphine Recherches en Management - CNRS - Centre National de la Recherche Scientifique - Université Paris Dauphine-PSL); Eloïse Sengès (DRM - Dauphine Recherches en Management - CNRS - Centre National de la Recherche Scientifique - Université Paris Dauphine-PSL) |
| Abstract: | In line with the successful aging models, a preliminary qualitative study with phenomenological interviews was implemented with 40 elderly individuals and caregivers. Complementary results from 8 cocreation meetings allowed us to prioritize the robotic functionalities to be improved and determine the added value of robots in comparison with those of other IT solutions. An experimentation has been launched and is still ongoing with a domestic social robot with elderly. In this paper, we highlight the specific role that robots can play in facilitating aging adjustment strategies. |
| Keywords: | Social Robot,Aging Well,Co-creation,Companion,Elderly |
| Date: | 2019–10 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-02651300&r=all |
| By: | Hossain, Md Mahbub; Mazumder, Hoimonty; Tasnim, Samia; Nuzhath, Tasmiah; Sultana, Abida |
| Abstract: | The novel coronavirus disease (COVID-19) is impacting health globally, whereas older adults are highly susceptible and more likely to have adverse health outcomes. In Bangladesh, the elderly population has been increasing over the past few decades, who often live with poor socioeconomic conditions and inadequate access to healthcare services. These disparities are likely to increase amid COVID-19, which may result in high mortality and morbidity among Bangladeshi older adults. We recommend that multifaceted interventions should be adopted for strengthening social care and health systems approach to ensure wellbeing, promote preventive measures, and facilitate access to healthcare among older adults in Bangladesh. Such multipronged measures would require policy-level commitment and collaborative efforts of health and social care providers and institutions to protect health and wellbeing among this vulnerable population during the COVID-19 pandemic. |
| Date: | 2020–05–11 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:x2b8w&r=all |
| By: | Denis Guiot (DRM - Dauphine Recherches en Management - CNRS - Centre National de la Recherche Scientifique - Université Paris Dauphine-PSL); Eloïse Sengès (DRM - Dauphine Recherches en Management - CNRS - Centre National de la Recherche Scientifique - Université Paris Dauphine-PSL); Marie Kerekes (DRM - Dauphine Recherches en Management - CNRS - Centre National de la Recherche Scientifique - Université Paris Dauphine-PSL) |
| Abstract: | In line with the successful aging models, a preliminary qualitative study with phenomenological interviews was implemented with 40 elderly individuals and caregivers. Complementary results from 8 cocreation meetings allowed us to prioritize the robotic functionalities to be improved and determine the added value of robots in comparison with those of other IT solutions. In particular, we highlight the role that robots can play in facilitating aging adjustment strategies. |
| Abstract: | Dans la perspective des modèles de vieillissement réussi, une étude qualitative préliminaire comportant des entretiens phénoménologiques est mise en oeuvre auprès de 40 personnes âgées et d'aidants. Les résultats complémentaires de 8 réunions de co création ont permis de hiérarchiser les fonctionnalités robotiques à améliorer et de déterminer la valeur ajoutée des robots en comparaison à d'autres solutions technologiques. Nous soulignons, en particulier, le rôle que les robots peuvent jouer pour faciliter les stratégies d'ajustement au vieillissement. |
| Keywords: | Robot,Aging Well,Co-creation,Aging adjustment strategies,Bien Vieillir,Cocréation,Stratégies d’ajustement au vieillissement |
| Date: | 2019–11 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-02651421&r=all |
| By: | Buchmann, Manuel (University of Basel) |
| Abstract: | The ongoing demographic change is expected to negatively affect the effective labor supply of various developed countries. In order to counteract these developments, many suggested policy measures target the participation rate of women and old workers. In this paper, I develop a multi-sectoral CGE-OLG model where workers of different ages and skills are assumed to be imperfect substitutes and calibrate it to the Swiss economy. I use this model to evaluate the effects of the demographic change on the Swiss labor market and the potential of reforms targeting different participation rates. I find that a yearly decrease of old workers' preference towards leisure by 2% between 2022 and 2030 yields macroeconomic results that are comparable to an increase in the statutory retirement age by 2 years. While the increase of the retirement age succeeds in increasing net income by more than both participation rate increases, it also leads to an increase in wage levels and thereby labor shortages. This result highlights the importance of reducing scarcity on the labor markets for macroeconomic performance and shows the potential of reforms targeting labor market participation. |
| Keywords: | overlapping generations, demographic change, participation rates, switzerland |
| JEL: | D58 E24 E66 J11 J21 J26 |
| Date: | 2020–06–22 |
| URL: | http://d.repec.org/n?u=RePEc:bsl:wpaper:2020/10&r=all |
| By: | Nie, P.; Ding, L.; Jones, A.M. |
| Abstract: | Using the 2011 and 2015 waves of the China Health and Retirement Longitudinal Study (CHARLS) linked with the 2014 CHARLS Life History Survey, we provide a comprehensive analysis on inequality of opportunity (IOp) in both body mass index (BMI) and waist circumference (WC) among middle-aged and older Chinese. We find that IOp ranges from 65.5% to 74.6% for BMI (from 82.1% to 95.5% for WC). Decomposition results show that spatial circumstances such as urban/rural residence and province of residence are dominant. Health status and nutrition conditions in childhood are the second largest contributor. Distributional decompositions further reveal that inequality in bodyweight is not simply a matter of demographic (age and gender) inequalities; our set of spatial and health and nutrition conditions in childhood become much more relevant towards the right tails of the bodyweight distribution, where the clinical risk is focused. |
| Keywords: | inequality of opportunity; body mass index; waist circumference; CHARLS; Shapley-Shorrocks decomposition; unconditional quantile regressions |
| JEL: | D63 I12 I14 |
| Date: | 2020–06 |
| URL: | http://d.repec.org/n?u=RePEc:yor:hectdg:20/14&r=all |
| By: | Alicia H. Munnell; Gal Wettstein; Abigail N. Walters |
| Abstract: | Over the past couple of decades Americans have been seeking to work to older ages. However, working to older ages requires more than a willingness on the part of workers; it requires employers to hire them on terms that are worthwhile. This paper addresses the question of what jobs employers really want older workers to do by analyzing a sample of job postings from RetirementJobs.com, a large national website that targets older workers. On the positive side, the data suggest that remunerative work for older workers exists. However, the jobs employers actively target to older workers tend to be low-quality part-time jobs with no benefits. This segment of the labor market may be adequate for older workers seeking bridge job options, but those seeking to substantively extend their careers need full-time work with health and retirement benefits. |
| Date: | 2020–06 |
| URL: | http://d.repec.org/n?u=RePEc:crr:crrwps:wp2020-11&r=all |
| By: | Britton, Jack; French, Eric Baird |
| Abstract: | Health and employment are strongly correlated. This paper reviews the existing evidence and brings in new evidence on the following issues: (a) the measurement of health; (b) the impact of health on employment rather than just the association between health and employment; (c) the mechanisms by which health impacts employment; and (d) the likely effect of recent retirement and disability policy changes in the UK. Although the magnitude of the estimated effect of health on employment varies greatly from study to study, some of this variation is driven by the health measure used. Given our preferred measure, the evidence suggests that 5-10 percent of the employment decline between ages 50 and 70 is due to declining health in England, with the largest effects among low-educated men. Most of the effect comes through declining preferences for work and lower productivity when in bad health, although some of the effect is from government-provided incentives to not work when in bad health, such as from disability benefits. |
| Keywords: | health; Labour Supply; retirement |
| JEL: | I10 I18 J26 |
| Date: | 2020–02 |
| URL: | http://d.repec.org/n?u=RePEc:cpr:ceprdp:14422&r=all |
| By: | Andrew E. Clark (PSE - Paris School of Economics); Hippolyte d'Albis (PSE - Paris School of Economics); Angela Greulich (OSC - Observatoire sociologique du changement - Sciences Po - Sciences Po - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | We here ask whether the U-shaped relationship between life satisfaction and age is flatter for those who are partnered. This is the case in cross-section EU-SILC data, where the drop in life satisfaction from the teens to the 50s is almost four times larger for the non-partnered than for the partnered, whose life satisfaction essentially follows a slight downward trajectory with age. However, the same analysis in three panel datasets (BHPS, SOEP and HILDA) reveals a U-shape for both marital groups, although still somewhat flatter for the partnered than for the non-partnered. We suggest that the difference between the cross-section and panel results reflects compositional effects: there is in particular a significant shift of the relatively dissatisfied out of marriage in mid-life. These composition effects will flatten the U-shape in age for the partnered in cross-section data. |
| Keywords: | Age U-shape,Subjective Well-being,Marriage,EU-SILC |
| Date: | 2020–06 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-02872212&r=all |
| By: | Esperanza Vera-Toscano (University of Melbourne); Maria Cesira Urzi Brancati (European Commission – JRC) |
| Abstract: | Adult education is recognised as an essential driver of economic growth and social development within the European Union and has been a political priority for nearly two decades. It is deemed to play a pivotal role to create better jobs in Europe, improve quality of life and promote individual development, personal fulfillment and active citizenship. A number of Commission initiatives in the recent past have underscored the importance of adult learning. In particular, the European Pillar of Social Rights, proclaimed and signed by the Council of the EU, the European Parliament and the Commission during the Gothenburg Social Summit for fair jobs and growth announced the right to quality and inclusive education, training, and life-long learning as its very first principle. In addition, as part of the Education and Training 2020 (ET2020) strategy, EU Member States have agreed on a common target to increase participation in adult learning in the EU. Fostering adult learning is now more important than ever because of three concurrent factors: technological change, population ageing and global migration flows. Technological change, and in particular automation and digitisation, affecting the world of work by altering or erasing certain tasks, often the most repetitive and standardised, and creating new ones. Adult and learning is essential to ensure that workers, and especially older ones, are equipped with the necessary skills throughout their lifetime, so that they can thrive in a constantly changing labour market. Similarly, in the context of population ageing, adult learning and continuing education become crucial as they can provide older people with the capabilities they need to stay in work well into their sixties and seventies. Finally, adult learning has a central role to play in a context of international migration, since it can be a tool to support the linguistic, social and cultural integration of immigrants. The “Education and Training 2020†(ET 2020) strategic framework is a crucial tool to monitor participation in adult learning; it set the average participation rate in adult learning at 15% of the population aged 25-64 by 2020. Yet, so far, only a few Member States have reached the benchmark. Furthermore, to underpin the adult learning target and support its monitoring within the European Semester, in 2018 Member States approved a comprehensive framework, developed by the Commission, for benchmarking adult skills and adult learning systems in the EU,. This report aims to reflect on the performance of the existing ET 2020 benchmark on adult participation in learning, by comparing cross-country patterns of participation using different sources of data. In particular, this report provides empirical evidence on participation in adult learning, with a specific focus on different subgroups, such as older people or others belonging to groups that are traditionally excluded from learning, which are identified as a priority by the European Council’s “Renewed European Agenda for Adult Learning†(EEAL). The report also discusses the strengths and weaknesses of the current data source used to create the indicators, i.e. the EU Labour Force Survey (EU-LFS) and extended coverage of adult learning in the EU-LFS as of 2022, enabling improved indicators, and further introduces the possibility to create other indicators based on different, complementary data sources, such as the Adult Education Survey (AES), the Continuing Vocational Training Survey (CVTS), the OECD Survey on Adult Skills (PIAAC), and others. |
| Keywords: | adult learning; continuing education; lifelong learning; benchmarking. |
| Date: | 2020–05 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc119018&r=all |
| By: | Gordon John Anderson; Rui Fu |
| Abstract: | Comparing the wellbeing of groups using self reported measures of wellbeing can be challenging. The scale dependency of many summary statistics applied to arbitrary Cantril scales attached to ordinal categorical data can engender a lack of coherency in results based upon alternative, equally valid scales. Furthermore, the conditions under which results will be robust across alternative scales seldom prevail in practice. Here scale independent methods for the multilateral and multidimensional wellness measurement and comparison of groups are proposed and implemented in a study of the health-loneliness-aging-gender nexus in 21st century China. The results indicate that poor health and loneliness appears to increase with age, though not monotonically. Improved health status is always associated with better un-loneliness outcomes and improved un-loneliness status is always associated with better health outcomes. While a large portion of the population are not affected by loneliness, of those who are, ill health is generally more likely to be reported. With regard to the health - loneliness joint distribution, generally, males enjoy better joint outcomes than their female counterparts in almost every comparison and urban dwellers enjoy better outcomes than their rural counterparts. |
| Keywords: | Wellbeing Measurement, Ordering Distributions, Ordinal Data. |
| JEL: | C14 I14 I30 I31 |
| Date: | 2020–06–22 |
| URL: | http://d.repec.org/n?u=RePEc:tor:tecipa:tecipa-667&r=all |
| By: | Bayer, Christian; Kuhn, Moritz |
| Abstract: | COVID-19 is spreading and has reached the state of a worldwide pandemic and health systems are or will be tested in how they can deal with it. So far, during this early phase of the pandemic, outcomes in terms of case-fatality rates (CFR) differ widely across countries. We explore how differences in living arrangements of generations within families contribute to the cross country differences. We document a strong positive correlation between countries' CFRs and the share of working-age families living with their parents. This suggest that policy needs to focus on inter-generational social distance when combating this pandemic. |
| Date: | 2020–03 |
| URL: | http://d.repec.org/n?u=RePEc:cpr:ceprdp:14519&r=all |