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| Agenda | Sources for Presentations |
| Links | General Reading Assignment |
| Handouts | PowerPoints |
General Reading Assignment for the Entire Class:
(To view the sources for a paper, click on the title. )
I. OPENING REMARKS
II. THE MACROECONOMIC CONSEQUENCES OF POPULATION AGING
"How Will Population Aging Affect the US Economy?"
"How Has Population Aging Affected the Economy of Japan?"
III. POPULATION AGING AND SAVING RATES
"Should We Increase our National Savings Rate?
"Should Australia and Japan Increase their National Savings Rates? "
IV. POPULATION AGING AND MARKETS FOR LABOR AND ASSETS
"Will Population Aging Drive up Labor Costs?"
"Will Population Aging Cause a "Meltdown" of Asset Prices?"
V. SUMMARY AND CONCLUSIONS
II. THE MACROECONOMIC CONSEQUENCES OF POPULATION AGING
"How Will Population Aging Affect the US Economy?"
Paul Johnson and Jane Falkingham, "Aging and the Macroeconomy" in Ageing and Economic Welfare, Sage Publications, Newberry Park, California, 1992, Ch. 6, pp.152-176. (Paper Reserve)
Pryor, Frederic L. (2003), "Demographic Effects on Personal Saving in the Future", Southern Economic Journal v69, n3 (January 2003): 541-559. (Electronic Reserve)
"How Has Population Aging Affected the Economy of Japan?"
Horlacher, David E. and F. Landis Mac Kellar, (2003), "Population Ageing in Japan: Policy Lessons for South-East Asia", Asia Pacific Development Journal, vol. 10, no. 1, (June 2003), pp. 97-122.. (Electronic Reserve)
Muhleisen, Martin; Faruqee, Hamid (2001), "Japan: Population Aging and the Fiscal Challenge", Finance and Development, v38, n1 (March 2001): 10-13. (Electronic Reserve)
Yashiro, Naohiro (1997), "Aging of the Population in Japan and Its Implications to the Other Asian Countries", Journal of Asian Economics, v8, n2 (Summer 1997): 245-261. (Paper Reserve )
III. POPULATION AGING AND SAVING RATES
"Should We Increase the National Savings Rate?"
Elmendorf, Douglas W. ; Sheiner, Louise M. (2000), "Should America Save for Its Old Age? Fiscal Policy, Population Aging, and National Saving,", Journal of Economic Perspectives v14, n3 (Summer 2000): 57-74. (Electronic Reserve)
"Should Australia and Japan Increase their National Savings Rates? "
Guest, Ross; McDonald, Ian (2001), "The Impact of Population Aging on the Socially Optimal Rate of National Saving: A Comparison of Australia and Japan", Review of Development Economics v5, n2 (June 2001): 312-327. (Paper Reserve)
Guest, Ross S.; McDonald, Ian M. (2001), "Ageing, Optimal National Saving and Future Living Standards in Australia", Economic Record v77, n237 (June 2001): 117-134. (Electronic Reserve)
Guest, Ross; McDonald, Ian (2001), "National Saving and Population Ageing", Agenda v8, n3 (2001): 235-246. (Electronic Reserve)
IV. POPULATION AGING AND MARKETS FOR LABOR AND ASSETS
"Will Population Aging Drive up Labor Costs?"
Spiezia, Vincenzo (2002), "The Greying Population: A Wasted Human Capital or Just a Social Liability?" International Labour Review v141, n1-2 (2002): 71-113. (Electronic Reserve)
Venne, Rosemary A. (2001), "Population Aging in Canada and Japan: Implications for Labour Force and Career Patterns", Revue Canadienne des Sciences de l'Administration/Canadian Journal of Administrative Sciences v18, n1 (March 2001): 40-49. (Paper Reserve)
Flabbi, Luca; Ichino, Andrea (2001), "Productivity, Seniority and Wages: New Evidence from Personnel Data", Labour Economics v8, n3 (June 2001): 359-387. (Paper Reserve)
"Will Population Aging Cause a "Meltdown" of Asset Prices?
Brooks, Robin (2002), "Asset-Market Effects of the Baby Boom and Social-Security Reform", American Economic Review v92, n2 (May 2002): 402-406. (Electronic Reserve)
Poterba, James M. (1998), Population Age Structure and Asset Returns: An Empirical Investigation, National Bureau of Economic Research Working Paper: 6774 October 1998. (Electronic Reserve)
Poterba, James M. (2001), "Demographic Structure and Asset Returns", Review of Economics and Statistics v83, n4 (November 2001): 565-584. (Electronic Reserve)
Syllabi:
Bibliographies:
Phillip J. Longman, "The World Turns Grey" in U.S. News and World Report, Vol. 126, No. 8, March 1, 1999. (Available on Expanded Academic ASAP)
Hurd, Michael D., "The Effect of Labor Market Rigidities on the Labor Force Behavior of Older Workers", (Chapter 1) in Advances in the Economics of Aging, David Wise (editor), 1997, pp. 11-60.
Lumsdaine, Robin L. , James H. Stock and David A. Wise, "Why are Retirement Rates So High at Age 65?", (Chapter 2) in Advances in the Economics of Aging, David Wise (editor), 1997, pp. 61-82.
Leonesio, Michael, "The Economics of Retirement: A Nontechnical Guide", in the Social Security Bulletin, Vol. 59, No. 4, Winter 1996, pp. 29-50.
Why are the elderly retiring at younger ages?
David Wise, "More Older People Living Longer, Working Less", (Chapter 1) in Facing the Wave, edited by David Wise, Hoover Institution Press, 1997, pp. 1-29. VG
Is population aging driving the stock market?
Bakshi, Gurdip S. ans Ziwu Chen, "Baby Boom, Population Aging, and Capital Markets" in the Journal of Business, Vol. 67, No. 2, 1994, pp. 165-202.
What are the aging problems of the industrialized countries?
OECD, "Introduction and Overview", (Chapter 1) in Aging in OECD Countries, Organization for Economic Cooperation and Development, Social Policy Studies No. 20, 1996, pp. 9-27.
Is international investment the only way to protect the elderly in Europe?
Borsh-Supan, Axel, "Age and Cohort Effects in Saving and the German Retirement System" in Ricerche Economiche, Vol. 49, 1995, pp. 207-233.
Is population aging the basic cause of Japan's economic problems?
Ezrati, Milton, "Japan's Aging Economics", in Foreign Affairs, May/June 1997, pp. 96-104.
Are Americans saving enough for their old age?
Moore, James F. and Olivia S. Mitchell, Projected Retirement Wealth and Savings Adequacy in the Health and Retirement Study, NBER Working Paper No. 6240, National Bureau of Economic Research, October 1997. FR
Bernheim, B. Douglas, "The Adequacy of Personal Retirement Saving: Issues and Options", (Chapter 2) in Facing the Wave, edited by David Wise, Hoover Institution Press, 1997, pp. 30-56. VG
How can we encourage rich people to save more of their incomes?
Shoven, John B and David Wise, "Keeping Savers from Saving", (Chapter 3) in Facing the Wave, edited by David Wise, Hoover Institution Press, 1997, pp. 57-87. FR
Do elderly Japanese save or dissave?
Horioka, Charles Yuji, and N. Kasuga, K. Yamazaki and W. Watanabe, "Do the Aged Dissave in Japan? Evidence From Micro Data", in Journal of the Japanese and International Economies, Vol. 10, 1997, pp. 295-311.
AGING IS ACCELERATING THE GROWTH OF HEALTH CARE COSTS
Fuchs, Victor R. (1998), Health Care for the Elderly: How Much? Who Will Pay for It? , Publication: National Bureau of Economic Research Working Paper: 6755 October 1998
Fuchs, Victor R. (2000), Medicare Reform: The Larger Picture, National Bureau of Economic Research Working Paper: 7504 January 2000
AGING IS SLOWING THE GROWTH OF HEALTH CARE COSTS
Lakdawalla, Darius; Philipson, Tomas (1999), Aging and the Growth of Long-Term Care, National Bureau of Economic Research Working Paper: 6980 February 1999
Miller, Tim (2001), "Increasing Longevity and Medicare Expenditures", Demography v38, n2 (May 2001): 215-26
Outreville, J. Francois (2001), "The Ageing Population and the Future of Healthcare Plans", Geneva Papers on Risk and Insurance: Issues and Practice, v26, n1 (January 2001): 126-31
II. THE MACROECONOMIC CONSEQUENCES OF POPULATION AGING
"How Will Population Aging Affect the US Economy?"
"How Has Population Aging Affected the Economy of Japan?"
III. POPULATION AGING AND SAVING RATES
"Should We Increase our National Savings Rate?
"Should Australia and Japan Increase their National Savings Rates? "
IV. POPULATION AGING AND MARKETS FOR LABOR AND ASSETS
"Will Population Aging Drive up Labor Costs?"
"Will Population Aging Cause a "Meltdown" of Asset Prices?"
II. THE MACROECONOMIC CONSEQUENCES OF POPULATION AGING
"How Will Population Aging Affect the US Economy?"
"How Has Population Aging Affected the Economy of Japan?"
III. POPULATION AGING AND SAVING RATES
"Should We Increase our National Savings Rate?
"Should Australia and Japan Increase their National Savings Rates? "
(none)
IV. POPULATION AGING AND MARKETS FOR LABOR AND ASSETS
"Will Population Aging Drive up Labor Costs?"
"Will Population Aging Cause a "Meltdown" of Asset Prices?"