Aging and the Macroeconomy


Book Description

The United States is in the midst of a major demographic shift. In the coming decades, people aged 65 and over will make up an increasingly large percentage of the population: The ratio of people aged 65+ to people aged 20-64 will rise by 80%. This shift is happening for two reasons: people are living longer, and many couples are choosing to have fewer children and to have those children somewhat later in life. The resulting demographic shift will present the nation with economic challenges, both to absorb the costs and to leverage the benefits of an aging population. Aging and the Macroeconomy: Long-Term Implications of an Older Population presents the fundamental factors driving the aging of the U.S. population, as well as its societal implications and likely long-term macroeconomic effects in a global context. The report finds that, while population aging does not pose an insurmountable challenge to the nation, it is imperative that sensible policies are implemented soon to allow companies and households to respond. It offers four practical approaches for preparing resources to support the future consumption of households and for adapting to the new economic landscape.




Working Better with Age


Book Description

Currently, Japan has the highest old-age dependency ratio of all OECD countries, with a ratio in 2017 of over 50 persons aged 65 and above for every 100 persons aged 20 to 64. This ratio is projected to rise to 79 per hundred in 2050. The rapid population ageing in Japan is a major challenge for achieving further increases in living standards and ensuring the financial sustainability of public social expenditure. However, with the right policies in place, there is an opportunity to cope with this challenge by extending working lives and making better use of older workers' knowledge and skills. This report investigates policy issues and discusses actions to retain and incentivise the elderly to work more by further reforming retirement policies and seniority-wages, investing in skills to improve productivity and keeping up with labour market changes through training policy, and ensuring good working conditions for better health with tackling long-hours working culture.




Aging in Sub-Saharan Africa


Book Description

In sub-Saharan Africa, older people make up a relatively small fraction of the total population and are supported primarily by family and other kinship networks. They have traditionally been viewed as repositories of information and wisdom, and are critical pillars of the community but as the HIV/AIDS pandemic destroys family systems, the elderly increasingly have to deal with the loss of their own support while absorbing the additional responsibilities of caring for their orphaned grandchildren. Aging in Sub-Saharan Africa explores ways to promote U.S. research interests and to augment the sub-Saharan governments' capacity to address the many challenges posed by population aging. Five major themes are explored in the book such as the need for a basic definition of "older person," the need for national governments to invest more in basic research and the coordination of data collection across countries, and the need for improved dialogue between local researchers and policy makers. This book makes three major recommendations: 1) the development of a research agenda 2) enhancing research opportunity and implementation and 3) the translation of research findings.




The Impact of Workforce Aging on European Productivity


Book Description

The age-distribution of Europe’s workforce has shifted towards older workers over the past few decades, a process expected to accelerate in the years ahead.. This paper studies the effect of the aging of the workforce on labor productivity, identifies the main transmission channels, and examines what policies might mitigate the effects of aging. We find that workforce aging reduces growth in labor productivity, mainly through its negative effect on TFP growth. Projected workforce aging could reduce TFP growth by an average of 0.2 percentage points every year over the next two decades. A variety of policies could ameliorate this effect.




Social Security Programs and Retirement around the World


Book Description

In developed countries, men’s labor force participation at older ages has increased in recent years, reversing a decades-long pattern of decline. Participation rates for older women have also been rising. What explains these patterns, and the differences in them across countries? The answers to these questions are pivotal as countries face fiscal and retirement security challenges posed by longer life-spans. This eighth phase of the International Social Security project, which compares the social security and retirement experiences of twelve developed countries, documents trends in participation and employment and explores reasons for the rising participation rates of older workers. The chapters use a common template for analysis, which facilitates comparison of results across countries. Using within-country natural experiments and cross-country comparisons, the researchers study the impact of improving health and education, changes in the occupation mix, the retirement incentives of social security programs, and the emergence of women in the workplace, on labor markets. The findings suggest that social security reforms and other factors such as the movement of women into the labor force have played an important role in labor force participation trends.




Women Working Longer


Book Description

Today, more American women than ever before stay in the workforce into their sixties and seventies. This trend emerged in the 1980s, and has persisted during the past three decades, despite substantial changes in macroeconomic conditions. Why is this so? Today’s older American women work full-time jobs at greater rates than women in other developed countries. In Women Working Longer, editors Claudia Goldin and Lawrence F. Katz assemble new research that presents fresh insights on the phenomenon of working longer. Their findings suggest that education and work experience earlier in life are connected to women’s later-in-life work. Other contributors to the volume investigate additional factors that may play a role in late-life labor supply, such as marital disruption, household finances, and access to retirement benefits. A pioneering study of recent trends in older women’s labor force participation, this collection offers insights valuable to a wide array of social scientists, employers, and policy makers.




Oregon Blue Book


Book Description




Unfinished Work


Book Description

"The forces driving the first decades of the 21st century--globalization, technology, and unprecedented wealth mixed with jarring economic instability--are pushing the day of retirement later and later in life. The era of the aging worker is here. From the rice paddies of Japan to the heart of the American rust-belt, veteran international correspondent Joseph Coleman takes readers inside the lives of aging workers, exploring the factories, offices, and fields where they toil and the societies in which they live, giving the reader a front-row seat to the global older worker revolution. Profiles of individuals bring to life Coleman's exploration of how the United States--along with many countries around the world--deal with the rise of aging workforces. Throughout these stories, the author gives advice on how societies can best benefit from and assist their increasingly older population. Readers will come to know: --Michel Wattree, a retired French trucker who has found a second life as an elementary school bus driver and still nurses dreams of driving America's storied Route 66. --The aging crew of Japan's Yamashita Kogyosho, where for half a century they have crafted the world's fastest trains with their bare hands and hammers, exemplifies Japan's adaptive employment strategies that have helped the country deal with one of the oldest demographic compositions in the world. --Rita Hall, an unemployed hospital worker from Akron, Ohio, who hopes that a job training program will save her from spending the rest of her golden years in poverty-a fear shared by many who will far outlive their retirement savings. Amidst the stories of how these works are working hard to adapt, Unfinished Work probes the struggles of companies either unable or unwilling to accommodate the aging of their workforces and the quandaries of governments and policymakers eager to control pension pay-outs to retiring boomers, yet unsure how to keep them on the job. What emerges is a compassionate but clear-eyed portrait of a world in themidst of a slow-motion aging revolution that will have vast consequences for present and coming generations"--




Contemporary Perspectives on Ageism


Book Description

This open access book provides a comprehensive perspective on the concept of ageism, its origins, the manifestation and consequences of ageism, as well as ways to respond to and research ageism. The book represents a collaborative effort of researchers from over 20 countries and a variety of disciplines, including, psychology, sociology, gerontology, geriatrics, pharmacology, law, geography, design, engineering, policy and media studies. The contributors have collaborated to produce a truly stimulating and educating book on ageism which brings a clear overview of the state of the art in the field. The book serves as a catalyst to generate research, policy and public interest in the field of ageism and to reconstruct the image of old age and will be of interest to researchers and students in gerontology and geriatrics.




Ageing Labour Forces


Book Description

Philip Taylor has produced an important and excellent edited collection on a topic of immediate and ongoing relevance. . . The case studies presented in this collection are highly accessible and rich in detail, and provide comprehensive and interesting analyses of ageing labour forces. The book challenges myths and oft-accepted statements made by policy-makers and other commentators about population ageing, older workers position in the labour market and in workplaces, and social supports for this segment of the labour force. In addition, the volume demonstrates the strength of the case study methodology in helping us to better understand social structures and relations. Of particular value is that the contributions are from researchers from varied disciplines across advanced industrialized countries. . . this collection is highly valuable for policy-makers, employers, unionists, and academics, and should not be ignored. Vivian Shalla, Labour/LeTravail This book makes an important contribution to the policy debate about age and the workforce, and will be valuable both to academic researchers interested in the labour market and ageing policy, and to policymakers who wish to understand the diversity of national approaches to a shared agenda. . . This book sheds new light on the differences between countries approaches to the common policy issues, and highlights some of the issues which policy needs to address. Taylor s overarching argument that we should be cautious about making over-positive assumptions about the benefits of extending working life is timely. Stephen McNair, Ageing and Society The book is extremely valuable for policy makers, labour market and welfare (pensions) experts and the social partners, because it contains a comprehensive analysis of the legal, institutional, welfare and employment policy developments over the past few decades in the eight countries. It offers policy guidance and examples of good practices for dealing with an ageing workforce, but also showing the adverse effects of well-intentioned policies and legislation. Hedva Sarfati, Relations Industrielles/Industrial Relations Ageing Labour Forces is a provocative work, which will appeal to academics and researches interested in work, ageing and public policy, as well as labour economics. SirReadaLot.org This provocative book considers the changing status of older workers, the evolution of public policy on age and work and the behaviour of employers. It attempts to answer the critical question: in an ageing society, can older workers look forward to the prospect of longer working lives with choice and security and make successful transitions to retirement? Ageing Labour Forces challenges the current stance of many governments and observers concerning policies to extend working lives. It utilises perspectives and case studies from public policy, employment policy and the attitudes and behaviour of older people. Philip Taylor argues that older workers have been at the forefront of industrialized society's efforts to respond to the crisis facing social welfare systems and the economic threats associated with population ageing. Their involvement has forced the restructuring of economies, adjustments to social welfare systems as well as redefinitions to the actual concept of old age. Containing contributions from leading researchers in a number of countries, this work will appeal to academics and researchers interested in work, ageing and public policy as well as labour economics.