Incresing longevity and population aging will be the drivers of some of the most important economic and social challenges of the twenty-first century. With increasing life expectancy, falling fertility, and the progression of relatively large-sized cohorts to the older ages, the populations and workforces of most developed countries are growing older. These shifts have important implications for macroeconomic potential and performance. For instance, population ageing will change the aggregate stock of human capital as well as its age distribution, with likely implications for labor force participation, hours worked, and savings, and for cross-country trade, capital mobility, and labor mobility. In addition, relatively large cohorts with low or moderate levels of formal education will be successively replaced by smaller cohorts with higher levels of formal education. The shift in the age distribution also has important implications for social security. Demands for transfers and private provisions for old age support will increase, while the population shares of working-age adults will decline. Increasing longevity and population aging
This seminar will cover some of the core implications of population aging:
- How does aging affect individual productivity and macroeconomic performance?
- What are the main challenges associated with population aging for individuals?
- What are the requirements and options for economic policy?
The seminar will cover these aspects on the basis of original research contributions (which are typically written in English, hence seminar papers and presentations will also be in English, although language proficiency per se will not be graded). Most of the discussed literature will be empirical, but some theoretical contributions will also be covered.