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The 29th NSE International Development Forum




The 29th NSE

International Development Forum


The Macroeconomics of Aging:

The Role of Pension System Design in an Aging World


Time:         1:30pm – 3:00pm, April 22nd, 2019

Venue:       Room 359s, Overseas Exchange Center, Peking University


Speaker:  Dr. Era Dabla-Norris




Many advanced and emerging market economies are in the midst of stark demographic change. Steady declines in fertility rates have led to a faster reduction in the rate of growth of the working-age population relative to the overall population. In combination with rising longevity, this development has pushed up old-age dependency ratios share of the working-age population. As increasingly fewer workers are available and labor force participation rates drop, economic output is bound to fall. Aging would also exert considerable pressure on public finances as outlays for pensions and health care increase. The overall macroeconomic impact would depend on how households and firms react to the changing demographic landscape. This presentation will discuss how these demographic shifts could influence public and private---and hence national saving---by explicitly considering the role of pension system characteristics. In countries with aging populations, national saving is important to bolster retirement security and allow workers to more easily bear the costs of financing pension programs while maintaining their living standards. This presentation will focus on the interplay between public and private saving, and the role of pension system attributes (coverage of the elderly, benefits, and the type of funding) in shaping saving profiles across countries in the coming decades. Policies to cope with the aging challenge will be outlined, with a focus on pension systems and long-term saving.​





Ms. Era Dabla-Norris is a Division Chief in the IMF’s Fiscal Affairs Department. She is currently working on issues pertaining to tax policy reforms and their macroeconomic impacts, the macroeconomic of aging, structural reforms and productivity, gender and the future of work, and sovereign debt. Since joining the IMF she has worked on a range of advanced, emerging market, and low-income countries.  Ms. Dabla-Norris has published widely in several fields of economics, including macroeconomic modeling, international economics, public finance and economic development. Ms. Dabla-Norris received her M.A. in Economics from Delhi School of Economics and a Ph.D. in economics from the University of Texas at Austin. Ms. Dabla-Norris has been a contributing member of the Global Councils of the World Economic Forum.


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