Golden years? The impacts of New Zealand’s ageing on wages, interest rates, wealth and macroeconomy

Kirdan Lees

No 2013/1, NZIER Working Paper from New Zealand Institute of Economic Research

Abstract: New Zealand is ageing. The number of old people will increase three-fold and will soon comprise a very large segment of society. Ageing will shrink the labour supply relative to the size of the population and the existing supply of capital. That has implications for wages and interest rates. Increased longevity should also affect savings decisions and labour force participation. In this paper we model these changes to put some numbers on their impact. While the population is ageing gradually, the impact on the mix of labour and capital that fuels the economy will be profound.

Keywords: ageing; New Zealand; demographics; labour force participation (search for similar items in EconPapers)
JEL-codes: J11 J14 (search for similar items in EconPapers)
Pages: 24 pages
Date: 2013-03-01
New Economics Papers: this item is included in nep-age
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Persistent link: https://EconPapers.repec.org/RePEc:ris:nzierw:2013_001

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