This economics reader contains 29 previously published theoretical and empirical papers analyzing macroeconomic effects of population aging. Editors Creedy (economics, U. of Melbourne,
Australia) and Guest (economics, Griffith U., Australia) have organized the papers into three sections examining the effect of population aging on productivity and growth, consumption and
saving, and labor market and fiscal effects, all of which can affect national living standards, defined in terms of consumption per person. The papers adopt a variety of approaches to the topic
and address such subjects as differential fertility, inequality, and growth; age-specific productivity; political economy and open economy effects of population aging on growth; the impact of
demographic transition on capital formation; population aging and global capital flows; population aging and national saving; demographic shock transmission from large to small countries;
demographic structure and asset returns; generational accounts, aggregate saving, and intergenerational distribution; public saving and policy coordination in aging economies; social security
policy with public debt in an aging economy; increasing dependency rations, pensions, and tax smoothing; and distributive implications of an aging society. The papers were all published within
the last two decades. Annotation 穢2007 Book News, Inc., Portland, OR (booknews.com)
