By Gordon Betcherman, Arup Banerji Mukesh Chawla
Traditional knowledge holds that getting older populations are unfavourable for fiscal progress as a result of their capability affects on exertions provide, productiveness, and discounts. whilst this is often coupled with the elevated spending pressures due to pension standards and healthiness care, getting older societies tend to face critical economic difficulties. This document addresses those issues within the detailed context of japanese Europe and the previous Soviet Union the place many nations are getting older quickly with out the industrial assets and institutional capability of alternative getting older societies in Western Europe and Japan.
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Extra info for From Red to Gray: The ''Third Transition'' of Aging Populations in Eastern Europe and the Former Soviet Union (World Bank Working Paper)
Some authors have commented that, for such policies to be effective, countries will have to adopt a more comprehensive menu with a mix of family and social policies that could be quite costly and complex to implement. This is because the usual monetary transfers or tax breaks are too low to cover the full costs of having and raising children to adulthood and are usually seen as temporary measures by parents and potential parents. For such policies to have a more significant impact on reproductive choices, they need to combine financial options with work and family incentives (McDonald 2000).
1). 1 Source: World Bank staff calculations, based on United Nations 2005. fertility—and the resulting shift toward population structures dominated by old people rather than young. The pace of aging naturally varies for countries and regions. The most dramatic aging worldwide has already occurred, but aging is expected to continue in those countries that for decades have had fertility rates below replacement levels, such as Japan and the countries of Western Europe. The median age of populations in Europe will increase from 38 today to 49 in 2050, over 20 years more than the median age in Africa.
Furthermore, wage records in many countries are either nonexistent or incomplete. Social pensions also have an important political difference. They would no longer constitute acquired rights. This change would give the government more freedom to adjust the level of benefits and the age of provision—and the administrative costs of maintaining a collection and recordkeeping institution could be eliminated. The benefits could also be financed by the least costly, most efficient tax mechanism available.
From Red to Gray: The ''Third Transition'' of Aging Populations in Eastern Europe and the Former Soviet Union (World Bank Working Paper) by Gordon Betcherman, Arup Banerji Mukesh Chawla