Economics of aging.

Summary The back cover states: "Demographic aging is often presented as a brake on the economic expansion of nations. But is it really an obstacle to growth? Through what channels does it influence economic activity? How can the welfare state adapt to ageing and the challenges posed by the dependence of the elderly? The book presents the tools used by economic analysis to study aging and its multiple interactions with economic activity. While aging can slow growth by reducing the ratio of active to inactive people, several adjustment mechanisms relating to savings, education and career length can offset this effect. Beyond its impact on market production, ageing also raises the question for economists of how to take life expectancy into account when measuring the economic performance of nations. Finally, the book examines the major challenges facing the welfare state as a result of ageing, whether in terms of redistribution or the care of dependent elderly people.