Aging Societies: Policies and Perspectives
Group of Twenty (G20) countries are being increasingly exposed to the effects of population aging, such as having an older and shrinking labor force with more retirees.
In many countries, aged or rapidly aging populations are threatening the sustainability of fiscal institutions, including conventional tax design and pay-as-you-go pensions, and the efficacy of conventional macroeconomic policies and, thus, require timely structural reforms.
Meanwhile, in countries with younger populations, population aging compounds the disruptions linked to technological diffusion, rising inequality, high economic informality, and rapid regional migration and makes forward-looking policy development difficult. These countries must then actively pursue measures to establish a financing base for improved social protection and enhance macroeconomic integrity.
This publication recommends policy responses in three main areas. First, it proposes structural reform policies to promote economic growth, macroeconomic integrity, and a resilient labor market. Second, it suggests the reorientation of social protection systems toward poverty alleviation, wealth accumulation, adequate social security for all, and fiscal sustainability. Finally, it recommends the development of data systems, policy pools, and analysis pertaining to the demographic impacts in the G20 countries as well as the emerging economies outside the G20.
- Macroeconomic Impacts and Policies in Aging Societies by Andrew Mason and Sang-Hyop Lee
- Fostering Prosperity: Investment and Demographic Transition by Andreas Esche, Martina Lizarazo López, and Thieß Petersen
- The Aging Population and Its Impacts on Fiscal Sustainability by Naoyuki Yoshino, Chul Ju Kim, and Pitchaya Sirivunnabood
- Taxation in Aging Societies: Increasing the Effectiveness and Fairness of Pension Systems by Agustin Redonda, Vincenzo Galasso, Mark Mazur, Miranda Stewart, and Matthew Whittaker
- Work Capacity and Socially Sustainable Public Pension Systems in Aging Societies by Junghyun Kwon, Taesuk Lee, and Serena Rhee
- Aging, Fiscal Sustainability, and Adequacy of Social Security Systems by Rafal Chomik, John Piggott, and Gaoyun (Sophie) Yan
- Supporting Sustainable and Effective Social Security System Development in Aging Developing Countries by Seung Hyun (Luke) Hong and Tanyasorn Ekapirak
- The Role of the G20 in Designing Immigration Policies to Support Population Aging by Omar Kadkoy and Güven Sak
- Investment in Social Capital and Migrant Labor as a Labor Policy Alternative in Countries with High Population Aging by Wilfred Lunga and Konosoang Sobane
- Financial Literacy, Incentives, and Innovation to Deal with Population Aging by Charles Yuji Horioka and Yoko Niimi