[雙語(yǔ)翻譯]人口老齡化外文翻譯--人口老齡化和老年貧困對(duì)宏觀經(jīng)濟(jì)總量的影響

1、3250 英文單詞， 英文單詞，18500 英文字符，中文 英文字符，中文 5780 字文獻(xiàn)出處： 文獻(xiàn)出處：Orlická E. Impact of Population Ageing and Elderly Poverty on Macroeconomic Aggregates ☆[J]. Procedia Economics elderly poverty; economic growth; saving rate;

2、consumption; labour force; government expenditures1. IntroductionPopulation explosion from the industrial revolution led to the belief that this process is going to be continuous. However, technological progress as well

3、as political and cultural development caused fundamental changes in the society. The governments did not consider the population ageing to be a problem until few decades ago. Economists focused more on the demographic st

4、ructure to notice close relation of economic growth and population composition. Continuous rise of old age dependency ratio while fertility and mortality rate drops will in the future results in decreasing active young l

5、abour force, which will due to economy complexity influence through macroeconomic aggregates economic growth itself. Scientists are unanimous in impacts population ageing could have on the economy. In the first part of t

6、he paper I describe most important influences demographic changes have on labour marker, government spending and other macroeconomic aggregates. The issue of elderly poverty that is closely associated with population age

7、ing phenomenon and it is the topic of last section of the paper.1.1. Influence of population ageing on government spending and consumptionConsumption and savings are the building pillars of each economy. Economic lifecyc

8、le theory explains individuals´ desire to smooth consumption over time to ensure stable and balanced life. The population age structure and the life expectancy ratio were found out to be crucial explanatory variabl

9、es of aggregate consumption function and government spending function estimates. Stöver (2012) shows the level of consumption differs greatly between consumption purposes. Food and beverages tend to exhibit positive

10、 effect of rising share of young. The health care goods are affected positively by increasing elder share of population. Further implication of individual consumption outcomes on aggregate level proved the young and elde

11、r share of population has negative impact on consumption. The shifts in consumption structure influence aggregate demand and production in the end.Estrada, Park and Ramayandi (2011) presented empirical paper that studied

12、 influence of consumption while the saving rate remains positive. They do not fail to emphasize the generosity of retirement benefits which reduce the importance of private savings for individuals. The crucial effect of

13、pension system and the amount of pension benefits on saving rate was pointed out in the study written by Feldstein (1974). He explains negative impact on personal savings with substitution of household assets for pension

14、 benefits. On the other hand, lengthening period for retirement caused by change in preferences to remain on the labour market tends to affect personal savings positively due to investing accumulated resources.Different

15、saving behaviour results in changes in private portfolios´ composition. Continuous population ageing and growing dependency ratio provide the pressure on private investments. The drop in labour force and rise in

16、government expenditures lead to greater demands on the public pension benefits. The growing need for private investments will reflect through changes in capital intensity and rate of technological progress. Capital marke

17、t will be flooded by new assets and grow in size. Institutional investors, such as pension and investment funds, currently play a significant role on the capital market and their importance continue to grow. This develop

18、ment positively affects capital efficiency and total factor productivity. (Boersch-Supan, 2001)However, declining labour forces result in drop of capital accumulation per worker. In case the labour force change faster th