Ageing dynamics of a human-capital-specific population: A demographic perspective

Philipov, Dimiter and Goujon, Anne and Di Giulio, Paola (2014) Ageing dynamics of a human-capital-specific population: A demographic perspective. Demographic Research, 31 (44). pp. 1311-1336. ISSN 1435-9871

Available under License Creative Commons Attribution-NonCommercial 2.0 Germany (CC BY-NC 2.0 DE).

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Background: Research on how rising human capital affects the consequences of population ageing rarely considers the fact that the human capital of the elderly population is composed in a specific way that is shaped by their earlier schooling and work experience. For an elderly population of a fixed size and age-sex composition, this entails that the higher its human capital, the greater the total amount of public pensions to be paid. Objective: The main purpose of this paper is to analyse the link between human capital and retiree benefits and its effect on population ageing from a demographic viewpoint. Methods: We construct an old age dependency ratio (OADR), in which each person, whether in the numerator or the denominator, is assigned the number of units corresponding to his/her level of human capital. Based on data for Italy, we study the dynamics of this human-capital-specific OADR with the help of multistate population projections to 2107. Results: Our results show that under specific conditions a constant or moderately growing human capital may aggravate the consequences of population ageing rather than alleviate them. Conclusions: With those findings, the authors would like to stimulate the debate on the search for demographic and/or socio-economic solutions to the challenges posed by population ageing.

Item Type: Article
Additional Information: Part of this work was accomplished with EU funding for the FP6 MicMac project. We would like to thank Marco Marsili from ISTAT for sending us most of the demographic data for Italy. The responsibility for all conclusions drawn from the IT-SILC data lies entirely with the authors.
Keywords: Aging; Educational attainment; Human capital; Old age dependency ratio; Pensions; Projection
Divisions: Departments > Sozioökonomie > Sozialpolitik > Demographie > Wittgenstein Centre
Version of the Document: Published
Variance from Published Version: None
Depositing User: Mohammad Al Hessan
Date Deposited: 15 Dec 2017 14:00
Last Modified: 05 Dec 2018 01:05
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