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on Economics of Ageing |
| By: | Chen, Katherine L.; Tsai, Bor-Wen; Fortin, Garrett; Cooper, Jill F. |
| Abstract: | The older adult population in the United States aged 65 and older is expected to almost double between 2016 and 2060, from 49 million to 95 million. In 2018, there were 6, 907 people aged 65 or older killed in a traffic crash in the United States; this accounted for 18.9 percent of all traffic fatalities. To provide context, the overall population aged 65 or older accounted for 14.9 percent of people in the United States and 19.4 percent of all licensed drivers in 2017. California has the largest number of licensed drivers aged 65 or older in the nation with 4, 251, 349, or 15.9 percent of all licensed drivers in the state. However, as drivers age, physical and mental changes including reduced visual acuity, increased fragility, restricted movement, and cognitive impairment can directly and indirectly result in age-related driving impairments. Analyses presented in this section include fatal and serious injuries to drivers, passengers, bicyclists, pedestrians, and other non-motor vehicle occupants aged 65 or older. |
| Keywords: | Social and Behavioral Sciences |
| Date: | 2024–08–16 |
| URL: | https://d.repec.org/n?u=RePEc:cdl:itsrrp:qt80x91883 |
| By: | Hisaki Kono KONO; Bich-Ngoc T. PHAM |
| Abstract: | Ray and Genicott (2023) proposed a new metric for upward mobility, which also captures the concept of inclusive growth. We proposed several decomposition analyses of this metric using household-level data, which can help identify the factors that contributed to the observed inclusive growth. We applied these methods to Vietnam, a country that experienced rapid and equitable economic growth. Our findings reveal that rural residents, who were initially left behind, experienced more inclusive growth than urban residents, contributing to overall national-level inclusive growth. The impact of household demographic factors such as education levels and job status was relatively minor in explaining inclusive growth in Vietnam. Instead, regional economic performance emerged as a key driver of inclusive growth. The limited impact of education improvement is likely because the poor tended to be low-educated elderly people who would not directly benefit from the improvement of education. These findings underscore the importance of economic growth and expansion of social security systems, such as old-age pension programs, to achieve inclusive growth. |
| Keywords: | Intergenerational income mobility |
| Date: | 2024–08 |
| URL: | https://d.repec.org/n?u=RePEc:kue:epaper:e-24-003 |
| By: | Shantanu Bagchi (Department of Economics, Towson University) |
| Abstract: | This paper uses a stylized overlapping-generations model to examine the effect of aggregate (or business cycle) risk on the macroeconomic and welfare implications of Social Security. In this model framework, unfunded public pensions provide partial insurance against inter- and intra-generational risks that are uninsured due to incomplete markets. I find that in this environment, Social Security’s macroeconomic and welfare effects are considerably smaller than those in a framework without aggregate risk, and that the persistence of the aggregate shock process is an important determinant of this difference. I also find that aggregate risk changes how the redistribution implicit in Social Security's benefit-earnings rule interacts with its inter- generational risk sharing mechanism. |
| Keywords: | Social Security, aggregate risk, business cycles, incomplete markets, intergenerational risk. |
| JEL: | E21 E62 H55 |
| Date: | 2024–09 |
| URL: | https://d.repec.org/n?u=RePEc:tow:wpaper:2024-11 |