Decomposing Effects Of Population Aging On Financial Development In Oecd Countries
This will be specifically the case in countries exactly where pension, well being and lengthy-term care systems have a important pay-as-you-go component. The drop in labour provide might induce organizations to shift towards much more capital intensity, but may well also result in an increase in average wage levels, which might offset, to some extent, the negative direct revenue effect of ageing. The projected shares of elderly by educational levels in Asia and Europe had been estimated employing the CPOAT…