Macroeconomic Impacts and Policies in Aging Societies

By Andrew Mason and Sang-Hyop Lee


Will population aging lead to economic crisis with tepid economic growth, generational inequality, unsustainable public finances, and overly-burdened families? Answering these questions definitively requires data and analysis that has not been available in many countries. The evidence that is available, however, indicates that countries with moderate population aging can pursue policies that will capitalize on the benefits and minimize the costs of population aging. Countries with very low fertility and severe aging will likely face serious economic problems.