How to Age Successfully

Successful aging is a multi-faceted term with continuous attention while the human population is aging around the globe. The aging components differ while the world is changing, such as an increase in life expectancy or dramatic affection of the general COVID-19 pandemic. As aging is investigated in many disciplines, this research's focus is interdisciplinary to be able to reveal the acknowledgment of the benefits of the potential aging country. Therefore, aging is to be determined as a societal issue in this research under the lenses of continuous engagement with life. To that, the authors use fuzzy BWM approach to reveal the relations of components adopted from the MacArthur model of successful aging. Findings revealed that human capital development was the best factor whilst the relevance of successful aging was the worst factor in adopting relevant policies for successfully aging.

Aging and Consumption Patterns in Turkey

An aging population is one of the most important issues affecting many areas such as labor and capital markets, social protection, social security, housing, and especially the demand for goods and services. Specifically, analysis of consumption patterns has become essential to prepare long-term plans for production structure and investment because consumption preferences and needs may change as a result of the aging population. Therefore, the aim of this study is to analyze how aging affects consumption patterns in Turkey considering regional heterogeneity and the effects of macroeconomic factors over the years. For this, panel data analysis was performed using data on 26 regions of Turkey over 2008-2018. Results show that population aging affects most of the share of items in household consumption expenditures. Thus, Turkey should be prepared and make development and investment plans considering the aging population.

On the Socio-Economic Impacts of the Difference Between Healthy and Sick Aging

Population aging is a phenomenon that has characterized most countries in the world for many years now. Also, for some time now, the literature has shown some social and economic impacts of this phenomenon. This chapter intends to address an impact of a social nature, namely gender inequality, and an impact of an economic nature, namely the global burden of diseases, to which the literature on population aging has not yet given the necessary attention. For these impacts it is important to distinguish healthy aging from unhealthy aging. In fact, healthy aging not only reduces the global burden of disease but also contributes to a reduction in gender inequalities with regard to quality-adjusted years of life.

The Impact of Population Aging on Economic Growth: Panel Data Evidence from Middle East Countries

This study examines the relationship between population aging and economic growth in a panel of 10 selected Middle East countries for the period of 1996–2016. For this purpose, this study uses two different measures of population aging, namely population aged 65 and over and old dependency ratio, to investigate their impacts on economic growth. The study utilizes the three alternative models of static panel data comprised of the pooled ordinary least squares, random effects, and fixed effects. The results of the robust fixed effects model indicate that the population aged 65 and over and the old dependency ratio have a positive effect on economic growth. The finding supports the argument indicating that an aging population does not necessarily adversely affect economic growth in the developing countries as it does in the developed countries. Therefore, the elderly population is not a matter of concern for the Middle East and the mechanisms through which the effect can take place are savings behavior and human capital accumulation of the individuals.

The Age and Time of No Retirement

This comparative study considers global perspective by including developed and developing economies for exploring the social and economic impact of aging. Using stratified, purposive, and networking technique, the online opened-ended questions responses were gathered from the sample of 258. The findings confirmed that there is no age of retirement. Aging population contributions are significant and termed in this study as ‘knowledge-gem' (GK). The older population rate is increasing at a greater pace in the emerging economies in comparison to developed economies. Interestingly, the social activities remain constant in both types of economies. Post-retirement, elderly women are significant contributors to social activities while men have significant contribution to economic activities. From the cultural perspective, the aging population is mainly found in the ‘collectivism' on the grid-group cultural (GGC) model. The aging population is facing the challenges of in-equalities based on gender, class, and race in both developed and less-developed economies.

Does Population Aging Affect Income Inequality?

This study analyzes the relationship between the elderly dependency ratio and income inequality over the period 1972-2019 in countries such as the USA, Japan, the UK, France, Germany, Canada, and Italy, which rank top in the population aging, using the Fourier-Shin cointegration test. According to the results, the rise in the elderly dependency ratio of all countries included in the analysis, except for France, has a positive impact on income inequality. The result implying that the rise in the elderly dependency ratio increases the income inequality and renders some policy recommendations possible. Accordingly, the provision of adequate childcare programs and family aids can result in greater labor force participation in the short- and long-run. In addition, a pension system can be developed to lower the elderly dependency ratio, more money can be saved for the retirement period, and working domains can be developed for the post-retirement period.

Aging Population

In the wake of the pandemic, many lessons have been learnt, and different challenges have been incurred, leading to the creation of not only stress but also limiting the activities of old-age people. One of the most vulnerable sections of the society is the ‘aging population'. This theoretical chapter discusses the concerns and complexities affecting the aging population in the present pandemic (COVID-19) and how the concerns and complexities impact social and economic activities. The chapter also explores the stress variable. The chapter uses the current scenario and secondary sources to explore the research phenomenon in-depth. Recommendations to the policymakers are given at the end.

The Social Effects of Climate Change on the Health Outcomes of Vulnerable Older Adult Populations in the Global Community

As life expectancy rates continue to increase and fertility rates continue to decline globally in the 21st century, the demographics of aging populations are undergoing an unprecedented change that will have significant consequences for the health outcomes of older adults-at-risk. According to demographic data in a joint report authored by five federal agencies, 8.5% of the world's population is currently age 65 and older, a figure projected to double by 2050. This chapter presents an analysis of the impact of climate change on the health outcomes of aging populations worldwide. It examines how the collaborative efforts of the federal government and the public health system can be utilized to create policies and programs that can prepare aging communities to deal effectively with the health consequences of our changing environment.

The Effects of Population Aging and Life Expectancy on Economic Growth

This study examines the effects of gross saving rates, gross capital formation, population aging, and life expectancy on income growth between 1985 and 2018 for selected emerging market and middle-income economies. The estimates by feasible generalized least squares (FGLS), fully modified ordinary least squares (FMOLS), dynamic ordinary least squares (DOLS), canonical cointegrating regressions (CCR), and Driscoll-Kraay methods show the impact of population aging on income growth is positive. However, life expectancy gives positive results for gross domestic product per capita growth and negative results for gross domestic product growth. The results confirm that there is still an increasing population for emerging economies in general. In this respect, they also point to the neutral view approach for these countries. This situation highlights the importance of considering the effects of population aging on sustainable economic growth in emerging countries. For this reason, decision makers in these economies must monitor population structures closely and carefully.

Population Aging and Health Expenditures in EU Member States

All the countries are faced with the population aging resulting from the rising life expectancy and decreasing fertility rates at the present time and in turn have experienced many social and economic implications. In this research, the authors explore the causal interaction between population aging and health expenditures in a sample of EU member economies during the 2000-2018 period through Dumitrescu and Hurlin causality analysis. The causality analysis revealed a unilateral causality from health expenditures to population aging.