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THE ECONOMICS OF AGEING

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THE ECONOMICS OF AGEING

9781852788278 Edward Elgar Publishing
Edited by John Creedy, School of Accounting and Commercial Law, Victoria University of Wellington, New Zealand
Publication Date: 1995 ISBN: 978 1 85278 827 8 Extent: 656 pp
The fundamental role of individual ageing is something that everyone is necessarily aware of, and the division of the life cycle into a number of distinct stages has been recognised for many centuries.

This volume collects 32 articles concerned with a variety of economic aspects of individual and population ageing. They have been arranged under four main headings as follows: individual ageing and the life cycle; population ageing; ageing and social insurance; and macroeconomic effects. The editor has prepared a fresh introduction to accompany the piece which aims to set the context and discuss some of the major issues.

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Critical Acclaim
Contributors
Contents
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The fundamental role of individual ageing is something that everyone is necessarily aware of, and the division of the life cycle into a number of distinct stages has been recognised for many centuries.

This volume collects 32 articles concerned with a variety of economic aspects of individual and population ageing. They have been arranged under four main headings as follows: individual ageing and the life cycle; population ageing; ageing and social insurance; and macroeconomic effects. The editor has prepared a fresh introduction to accompany the piece which aims to set the context and discuss some of the major issues.
Critical Acclaim
‘. . . it is a marvellous idea to publish a collection of the most influential articles in a specific field. The series could become an important first reference for students and young teachers who turn to a new research area.’
– Hans Fehr, Kyklos
Contributors
Contributors: H.J. Aaron, K.G. Abraham, A.B. Atkinson, Y. Ben-Porath, M.J. Boskin, R. Clark, F.A. Cowell, J. Creedy, P.A. Diamond, R. Disney, K.M. Dominguez, R.C. Fair, J. Falkingham, M.S. Feldstein, B.S. Ferguson, W.A. Halter, R. Hemming, E.P. Lazear, H. Lydall, P.R. Masson, J.L. Medoff, T.W. Mirer, C.A. Pissarides, A.R. Prest, P.A. Samuelson, A. Sauvy, W.J. Serow, A.F. Shorrocks, J.J. Spengler, L.H. Summers, B.B. Torrey, J.A. Turner, R.W. Tyron, R.K. von Weizsächer, F. Welch
Contents
CONTENTS

ACKNOWLEDGMENTS

INTRODUCTION

PART I

INDIVIDUAL AGEING AND THE LIFE CYCLE

1. Harold Lydall (1955), ‘The Life Cycle in Income, Saving, and Asset Ownership’
2. Yoram Ben-Porath (1967), ‘The Production of Human Capital and the Life Cycle of Earnings’
3. John Creedy (1974), ‘Income Changes over the Life Cycle’
4. James L. Medoff and Katharine G. Abraham (1980), ‘Experience, Performance, and Earnings’
5. Edward P. Lazear (1979), ‘Why Is There Mandatory Retirement?’
6. A. B. Atkinson (1971), ‘The Distribution of Wealth and the Individual Life-Cycle’
7. A. F. Shorrocks (1975), ‘The Age-Wealth Relationship: A Cross-Section and Cohort Analysis’
8. Thad W. Mirer ((1980), ‘The Dissaving Behavior of the Retired Aged’

PART II

POPULATION AGEING

9. Alfred Sauvy (1948), ‘Social and Economic Consequences of the Ageing of Western European Populations’
10. William J. Serow (1976), ‘Slow Population Growth and the Relative Size and Productivity of the Male Labor Force’
11. David M. Cutler, James M. Poterba, Louise M. Sheiner and Lawrence H. Summers (1990), ‘An Aging Society: Opportunity or Challenge?’
12. Finis Welch (1979), ‘Effects of Cohort Size on Earnings: The Baby Boom Babies’ Financial Bust’
13. Christopher A. Pissarides (1989), ‘Unemployment Consequences of an Aging Population: An Application of Insider-Outsider Theory’
14. Brian S. Ferguson (1986), ‘Labour Force Substitution and the Effects of an Ageing Population’
15. Jane Falkingham (1989), ‘Dependency and Ageing in Britain: A Re-Examination of the Evidence’

PART III

AGEING AND SOCIAL INSURANCE

16. Paul A. Samuelson (1958), ‘An Exact Consumption-Loan Model of Interest with or without the Social Contrivance of Money’
17. Henry Aaron (1966), ‘The Social Insurance Paradox’
18. Paul A. Samuelson (1975), ‘Optimum Social Security in a Life-Cycle Growth Model’
19. P. A. Diamond (1977), ‘A Framework for Social Security Analysis’
20. Michael J. Boskin (1977), ‘Social Security and Retirement Decisions’
21. Martin Feldstein (1974), ‘Social Security, Induced Retirement, and Aggregate Capital Accumulation’
22. Joseph J. Spengler (1978), ‘Population Aging and Security of the Aged’
23. A. R. Prest (1970), ‘Some Redistributional Aspects of the National Superannuation Fund’
24. Barbara Boyle Torrey (1982), ‘Guns vs Canes: The Fiscal Implications of an Aging Population’
25. William A. Halter and Richard Hemming (1987), ‘The Impact of Demographic Change on Social Security Financing’
26. Robert Clark (1977), ‘Increasing Income Transfers to the Elderly Implied by Zero Population Growth’
27. John A. Turner (1984), ‘Population Age Structure and the Size of Social Security’
28. John Creedy and Richard Disney (1992), ‘Financing State Pensions in Alternative Pay-As-You-Go Schemes’
29. Robert K. von Weizsäcker (1990), ‘Population Aging and Social Security: A Politico-Economic Model of State Pension Financing’

PART IV

MACROECONOMIC EFFECTS

30. F. A. Cowell (1975), ‘Income Tax Incidence in an Ageing Population’
31. Paul R. Masson and Ralph W. Tryon (1990), ‘Macroeconomic Effects of Projected Population Aging in Industrial Countries’
32. Ray C. Fair and Kathryn M. Dominguez (1991), ‘Effects of the Changing U. S. Age Distribution on Macroeconomic Equations’

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