Demography and economics: Look past the past

Charles A.E. Goodhart, Philipp Erfurth 04 November 2014

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Introduction

Our history is our database. When seeking to peer dimly into the future, our normal response is to examine what happened in (similar) past episodes and then to extrapolate those outcomes into the future. This assumption, that the future will mimic the past, is hard-wired into almost all our forecasting exercises, from the most simple to the econometrically and technically most complex.

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Topics:  Global economy Labour markets

Tags:  forecasting, demographics, Ageing, fertility, globalisation, savings, consumption, life cycle, old age, healthcare, Retirement, investment, interest rates, labour productivity, technology, technology transfer

For economies, age is not just a number

Harun Onder, Pierre Pestieau 20 May 2014

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An ageing world population is expected to shape the economic future of the globe. According to UN calculations, the total world population will increase by 40% and the median age will increase by 7.8 years by 2050. Compared to a few decades ago, these rates represent a significant deceleration in population growth and a sizeable acceleration in ageing.

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Topics:  Frontiers of economic research Labour markets Welfare state and social Europe

Tags:  pensions, fertility, demographics, Ageing, longevity, Social security, population, Retirement

Identity and wellbeing: How retiring makes the unemployed happier

Clemens Hetschko, Andreas Knabe, Ronnie Schöb 04 May 2012

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Most people adapt surprisingly well to changes in their lives. Even after tragic events such as the death of a family member or a chronic disease, they restore their former wellbeing, if not always completely (Clark et al 2008). There is one event, though, for which this appears not to be true – unemployment. Compared with other negative experiences, the life satisfaction of the unemployed does not restore itself even after having been unemployed for a long time.

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Topics:  Frontiers of economic research Labour markets

Tags:  unemployment, wellbeing, Retirement, identity

Nudges to nudge up the savings rate

James Choi, Emily Haisley, Jennifer Kurkoski, Cade Massey 28 March 2012

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There is widespread concern that individuals do not save enough for retirement because they are financially illiterate (Lusardi and Mitchell 2007, Bucher-Koenen and Lusardi 2011) or suffer from self-control problems (Angeletos et al 2001). This concern has motivated policymakers and organisations to implement policies that promote higher savings. Traditionally, these policies have focused on using economic levers such as tax incentives and employer-based subsidies for saving.

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Topics:  Frontiers of economic research Labour markets

Tags:  saving, Behavioural economics, Retirement, nudging

Fatal attraction? Access to early retirement and mortality

Andreas Kuhn, Jean-Philippe Wuellrich, Josef Zweimüller 25 March 2012

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Europe and many other parts of the parts of the world face a dramatic demographic transition. Ageing populations will lead to fundamental changes in societies and threaten the sustainability of pension systems. This has prompted the EU to launch a public debate on how to meet this demographic challenge. In a green paper László Andor, EU Commissioner for Employment, Social Affairs and Inclusion, strongly urges an increase in the statutory retirement age. In fact, several European countries have already taken steps to increase the retirement age.

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Topics:  Health economics Labour markets

Tags:  health, Retirement

The dynamics of homeownership among the 50+ in Europe

Agar Brugiavini, Viola Angelini, Guglielmo Weber,

Date Published

Mon, 03/12/2012

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Topics

Europe's nations and regions Poverty and income inequality Welfare state and social Europe

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Retirement age across countries: The role of occupations

Philip Sauré, Hosny Zoabi 19 November 2011

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Long-standing trends towards earlier retirement and higher life expectancy threaten the sustainability of existing pension systems. What’s more, rising debt levels in the wake of the Great Recession have intensified the need for reforms (see Diamond 2011).

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Topics:  Labour markets

Tags:  retirement age, Retirement, occupations

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