Economics of Changing Age Distributions in Developed Countries

The demographic situation in the developed countries of the world has changed dramatically over the past century: fertility has declined by two-thirds; life expectancy has more than doubled; the proportion of the population over 65 has doubled or tripled, while the proportion of children has declined drastically. At the same time, birth rates have varied widely, creating dents and bulges in the population age distribution. This rapidly changing demographic situation in the developed world contributes to many social and economic problems: population ageing strains pension systems; unusually large generations experience educational disadvantages, reduced wages, and increased unemployment; changing marriage and household behaviour affect the demand for housing. This book examines the implications of such changes for the United Kingdom, Israel, Japan, and the United States. It presents the latest research on these issues by an international group of outstanding scholars. The book is aimed at economic demographers, sociologists, labour economists and policy-makers.