Population Ageing, Pensions and Growth

John Creedy, Wellington School of Business and Government, Victoria University of Wellington, New Zealand and Ross Guest, Professor of Economics, Griffith Business School, Griffith University, Australia

'This is a useful book that presents a number of important ideas and results. Creedy and Guest's discussion of the assumptions and value choices required in these models is thoughtful and interesting. Their overall conclusion that population ageing is unlikely to significantly reduce living standards is important for policymakers and the general public, many of whom are still under the sway of "crisis" rhetoric. . . this will likely be a valuable book for economists or economic policy researchers interested in the macroeconomic implications of population ageing. The careful discussion of the models involved will be useful for both graduate students and experienced researchers in this field.'

• Contents: Part I: Introduction 1. Introduction Part II: Discounting and Time Preference 2. Discounting and Time Preference 3. The Elasticity of Marginal Valuation 4. Sustainable Preferences 5. Representative Agent and Social Planner Part III: Pensions and Taxation 6. Pension Tax, Savings and Labour Supply 7. Private Pensions and Savings Part IV: Population Ageing 8. Tax Smoothing and Population Ageing 9. Demographic Change in OECD Countries 10. Capital Intensity and Productivity 11. Extensions and Sensitivity Analyses Bibliography Index