Physiological Aging around the World and Economic Growth

Carl-Johan Dalgaard, Casper Worm Hansen and Holger Strulik
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Casper Worm Hansen: University of Copenhagen

CAGE Online Working Paper Series from Competitive Advantage in the Global Economy (CAGE)

Abstract: As the composition of the world population gradually shifts towards older age groups, it becomes increasingly important to understand the ináuence of aging on macroeconomic outcomes of interest. Until now, however, it has been impossible to separate out the role played by demographics from the pure role of aging at the country level. Drawing on research in the Öelds of biology and medicine, the present study provides data on physiological aging. Our data shows that, over the last quarter of a century, the average person in the global labor force has not grown older in physiological terms. In an application of our panel dataset, we Önd evidence that accelerated physiological aging causally reduces labor productivity. Taken together, our analysis suggests that if productivity growth has deaccelerated in recent decades, physiological aging is unlikely to be a contributing force.Keywords: Physiological Aging; Economic Growth JEL Classification: O5; I15

Date: 2018
New Economics Papers: this item is included in nep-age, nep-dem, nep-evo and nep-gro
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