The Economic Consequences of Population Aging: A Global Perspective on Policies and Responses

Tazio Koch(Department of Economics, University of Klagenfurt, Universitätsstrasse 65-67, 9020 Klagenfurt, Austria)

Abstract

This article explores the impact of aging populations on economic systems and policies across the globe. It analyzes the demographic shifts occurring in many countries, particularly the increasing proportion of older adults, and their subsequent effects on labor markets, social security systems, healthcare costs, and economic growth. The article also presents a comprehensive overview of various policies and strategies implemented by governments to address the challenges posed by population aging. These include pension reforms, changes in healthcare systems, and labor market policies aimed at enhancing the participation of older workers. Furthermore, the article highlights the need for international cooperation in addressing these challenges, given their transboundary nature. Through a combination of theoretical frameworks and empirical evidence, the article offers insights into the economic consequences of population aging and provides a roadmap for policy responses that can mitigate their negative impacts and capitalize on the opportunities presented by an aging population.

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DOI: http://dx.doi.org/10.26549/jesr.v6i2.15947