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The Economic Impact of Australia's Aging Population
- SAIS Review of International Affairs
- Johns Hopkins University Press
- Volume 24, Number 2, Summer-Fall 2004
- pp. 81-92
- 10.1353/sais.2004.0036
- Article
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Australia, the "oldest continent on Earth," is used as a case study to illustrate the policy challenges posed by population aging, using a '3-Ps,' population-productivity-participation, framework. While most developed economies face a demographic challenge, they differ markedly in respect of 'starting point' fiscal positions and the appropriateness of policy design. Pro-growth policies, focused on participation and productivity, offer the best prospects of meeting the looming fiscal challenge without compromising the living standards of future generations.