Skip to main content Accessibility help
×
Home

Aging, Savings, and Pensions in the Group of Seven Countries: 1980—2025

  • Peter S. Heller (a1)

Abstract

In the next 30 to 40 years, past changes in fertility and mortality will lead to a significant increase in the share of the elderly. This study suggests that these demographic trends may lead to a decline in the G–7 private savings rate after 2000, compounding the impact of social expenditure pressures on the government's deficit. Moreover, public pensions may decline as a share of the consumption needs of the elderly, leading to financial pressures to reduce their consumption. The reduced burden of child support on the working population will not offset the increased burden of societal support for the elderly.

Copyright

References

Hide All
Bureau of labor Statistics, U.S. Department of Labor, Revised Equivalence Scale for Estimating Equivalent Incomes or Budget Costs by Family Type, Bulletin No. 1570–2 (Washington: U.S. Government Printing Office, 1968).
Danziger, S., van der Gaag, J., Smolensky, E., and Taussig, M., ‘Income Transfers and the Economic Status of the Elderly’, Institute for Research on Poverty, Discussion Paper No. 695–82 (Madison, 1982).
Feldstein, M., ‘International Differences in Social Security and SavingJournal of Public Economics, 14 (1980), pp. 225–44.
Heller, P. S., Hemming, R., and Kohnert, P., Aging and Social Expenditure in the Major Industrial Countries, 1980–2025, IMF Occasional Paper No. 47 (Washington: International Monetary Fund, 1986).
Heller, P. S.Aging, Savings, and Pensions in the Group of Seven Countries: 1980–2025’, IMF Working Paper 89/13 (Washington, D.C. 31 01, 1989).
Horioka, C. Y., ‘Why is Japan's Private Savings Rate So High?’ (unpublished, International Monetary Fund, 1986).
Lluch, C., ‘The Extended Linear Expenditure System’, European Economic Review, 4 (1973), pp. 2132.
Modigliani, F., ‘The Life Cycle Hypothesis of Saving and Intercountry Differences in the Saving Ratio’, in Induction Growth, and Trade, ed. by Eltis, W. A., Scott, M. F., and Wolfe, J. N. (Oxford: Clarendon Press, 1970), pp. 197225.
Modigliani, F., and Sterling, A, ‘Determinants of Private Saving with Special Reference to the Role of Social Security – Cross-Country Tests’, in The Determinants of National Saving and Wealth, ed. by Modigliani, F. and Hemming, R. (New York: St. Martin's Press, 1980), pp. 2455.
van der Gaag, J., and Smolensky, E., Technical Supplement on Levels of Living and Household Equivalence Scales (unpublished, Madison: Institute for Research on Poverty, 1980).
Sturm, P., ‘Determinants of Saving: Theory and Evidence’, OECD Economic Studies, No. 1 (Autumn 1983), Pp. 147–97.

Aging, Savings, and Pensions in the Group of Seven Countries: 1980—2025

  • Peter S. Heller (a1)

Metrics

Full text views

Total number of HTML views: 0
Total number of PDF views: 0 *
Loading metrics...

Abstract views

Total abstract views: 0 *
Loading metrics...

* Views captured on Cambridge Core between <date>. This data will be updated every 24 hours.

Usage data cannot currently be displayed