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Sustainable development in an aging economy

Published online by Cambridge University Press:  30 January 2002

Tetsuo Ono  and
Yasuo Maeda
Tetsuo Ono
Affiliation:
Institute of Policy and Planning Sciences, University of Tsukuba, 1–1–1, Tennoudai, Tsukuba, Ibaraki 305–8673, Japan. Email: ono@sk.tsukuba.ac.jp
Yasuo Maeda
Affiliation:
Faculty of Economics, Osaka University, 1–7, Machikaneyama, Toyonaka, Osaka 560–0043, Japan. Email: maeda@econ.osaka–u.ac.jp
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Abstract

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In this paper, we analyze the effects of population aging on economic growth and the environment in a two-period overlapping generations model of growth, aging, and the environment. We show that aging may be beneficial to economic growth and the environment under perfect annuitisation, while possibly harmful under imperfect annuitisation. We also discuss the implications of our results for environmental policy in an aging economy.

Keywords

Population AgingOverlapping GenerationsEconomic GrowthSustainable DevelopmentEnvironmental Externalities
Type
Research Article
Information
Environment and Development Economics , Volume 7 , Issue 1 , February 2002 , pp. 9 - 22
Copyright
© 2002 Cambridge University Press