Demographic Aging and Its Multifaceted Impact on the Economy [Sagiri Kitao - HIC]

 Rising life-expectancy, coupled with persistently low fertility rates that fall below replacement levels, is leading to a declining working-age population in many countries. The economic discourse surrounding demographic aging typically emphasizes the challenges posed by a shrinking labor force and reduced production capacity. However, the impact of aging population extends beyond these aspects, influencing the broader macroeconomy through a variety of complex channels. Older individuals

2024.10.22 11:49

Demographic Aging and Fiscal Challenge [Sagiri Kitao - HIC]

The demographic structure in many countries is undergoing a significant transformation, driven by rapidly declining fertility rates and increasing longevity. This shift results in a growing proportion of elderly individuals, which in turn places substantial pressure on fiscal balance due to soaring public expenditures needed to finance age-related social insurance programs. As illustrated in Figure 1, the old-age dependency ratio ― which is the ratio of individuals aged 65 and above to those age

2024.08.14 11:40

Education Fever: Status Struggles and Fertility Dilemma in East Asia [Sagiri Kitao - HIC]

When asked about their reasons for not achieving their desired family size, Japanese couples consistently cite the overwhelming financial burden of childcare and education as the primary obstacle. Today, parents allocate significantly more resources to each child compared to previous decades. The financial burden encompasses not only tuition and school fees but also expenditures on a myriad of extracurricular activities, as well as enrollment in evening and weekend cram schools, often extending

2024.05.08 11:28

Declining Fertility: How it Relates to the Macroeconomy and Growth [Sagiri Kitao - HIC]

이 기사는 해외 석학 기고글 플랫폼 '헤럴드 인사이트 컬렉션'에 게재된 기사입니다. In many countries around the world, including several in Asia such as Japan, Korea, Singapore, Taiwan and Hong Kong, fewer babies are being born. The secular decline in birth rates has been occurring over a long period, with fertility rates falling well below the level needed to replace the current populations for many years. If the trend continues, it could bring trouble for these nations in the years to come. Why Fertility Matters Havin

2024.04.22 14:47