EHL | September 13, 2022
What does "population aging" mean? Population aging is the name for an ongoing demographic phenomenon, the fact that the average age of individuals in society increases over time. In other words, there are more and more old people in the population, and less and less young persons. The graph displayed in Figure 1 illustrates the phenomenon. It shows the old-age dependency ratio (OADR), defined here as the number of individuals aged 65 or more, over the number of individuals aged 20 to 64. Today, that ratio sits at 32% in the OECD, on average. As the graph shows, the population aging phenomenon has been rather mild in previous dec...
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