Aging and the Macroeconomy

Conesa, Juan Carlos; Saxena, Akshar; Costa, Daniela; Raveendranathan, Gajendran; Kamali, Parisa; Kehoe, Timothy J.

doi:10.17226/13465

Cited by 21 publications

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“…На это указывают и исследования когнитивных способностей пожилых [9]. По прогнозам National Research Council [3], старение населения не будет оказывать значимого влияния на рост производительности в США.…”

Section: влияние на производительность трудаunclassified

“…Так, в США от 50 до 67 % домохозяйств не имеет достаточного объема сбережений на старость и полагается на государственные и частные пенсии и систему здравоохранения (см. оценки National Research Council[3]). В большей степени такое поведение характерно для домохозяйств с низкими доходами 9.…”

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Economic Effect of Population Ageing and Pension Reforms

Gurvich¹,

Ivanova²

2018

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The paper considers impact of population ageing on the economic growth and sustainability of pension systems. The analysis demonstrates that ageing has negative effect on the labor force and labor productivity, and thus results in a slowdown of economic growth and an increase of public spending. The most effective policy option is to raise the retirement age, while an increase in contribution rates or other taxes is the worst reaction. This recommendation is relevant for any countries at different stages of aging process, for all types of pension systems, for different demographic scenarios. Simultaneously with the raising of the retirement age, it is necessary to implement the policy aimed at improvement of the human capital quality.

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Section: влияние на производительность трудаunclassified

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Economic Effect of Population Ageing and Pension Reforms

Gurvich¹,

Ivanova²

2018

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Meritocracy, Growth, and Lessons from Italy's Economic Decline

Codogno

Galli

2022

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The book draws lessons on the importance of rewarding merit for economic growth by analysing Italy’s decline over the past few decades. Connections rather than merit are a long-standing feature of Italian elites, even in the corporate sector. This became a significant problem when Italy could no longer grow through low wages, imitation, devaluation, and public debt, and faced the challenges of becoming a frontier knowledge-based open economy. The book uses international comparisons over many aspects of society, from social capital to governance, the role of the public sector, efficiency of the judiciary, education, gender and social inequality, social mobility, corporate standards, financial structures, and more to evaluate Italy’s performance. It argues that the arrogance of mediocracy is more damaging than that of meritocracy. Also, the former is more likely to facilitate the rise of populism. Studying Italy’s case can be helpful to many other countries: Italy was the country of economic miracle after WWII, and it is still an advanced economy and a member of the G7 club. Until the 1960s, it seemed destined to catch up with the best-performing countries. Then the growth engine stopped, its debt skyrocketed, and Italy became the weak link in the Eurozone, possibly endangering its very survival.

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2022

Meritocracy, Growth, and Lessons From Italy's Economic Decline

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Aging and the Macroeconomy

Cited by 21 publications

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Economic Effect of Population Ageing and Pension Reforms

Economic Effect of Population Ageing and Pension Reforms

Meritocracy, Growth, and Lessons from Italy's Economic Decline

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