The economic consequences of ageing populations.

@article{Mirrlees1997TheEC,
  title={The economic consequences of ageing populations.},
  author={J. Mirrlees},
  journal={Philosophical transactions of the Royal Society of London. Series B, Biological sciences},
  year={1997},
  volume={352 1363},
  pages={
          1881-6
        }
}
  • J. Mirrlees
  • Published 1997
  • Economics, Medicine
  • Philosophical transactions of the Royal Society of London. Series B, Biological sciences
The effect of low birth rates and lengthening lives on the economy is discussed. Two extreme cases are examined: where pensions are entirely on a pay-as-you-go basis, and where they are entirely funded. It is argued that the economy would grow faster in the latter case. The impact on the levels of consumption of each age cohort during its lifetime is assessed. The possible magnitude of changes in consumption as a result of an increase in the retired part of the population is illustrated. It is… Expand

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