Aging in Europe: Reforms, international diversification and behavioral reactions

Börsch-Supan, Axel (), Härtl, Klaus () and Alexander Ludwig

No 201425, MEA discussion paper series from Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy

Abstract: The extent of demographic changes in Europe and Asia is much more drastic than in the US. This paper studies the effects of population aging on the interactions between economic growth and living standards in Europe with labor market and pension reform, behavioral adaptations, and international capital flows. Our analysis is based on an overlapping generations model with behavioral reactions to reform which is extended to the multi-country situation typical for Europe. While the negative effects of population aging on growth in Europe can in principle be compensated by reforms and economic adaptation mechanisms, they may be partially offset by behavioral reactions.

JEL-codes: D13 E27 F16 F21 H55 J11 J21 (search for similar items in EconPapers)
Date: 2014-05-15
New Economics Papers: this item is included in nep-age, nep-dem, nep-dge and nep-pbe
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (23)

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Journal Article: Aging in Europe: Reforms, International Diversification, and Behavioral Reactions (2014)
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