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Demographic Change in Asia - The Impact on Optimal National Saving, Investment, and the Current Account
Should economies boost national saving in response to their aging populations? The Organization for Economic Cooperation and Development (OECD 1996) has expressed concern over the aging of populations throughout the world and called for higher saving now.2 A judgment on the most desirable level of saving can be based on the notion that saving is a means to redistribute consumption over time. A high level of saving shifts consumption into the future. A low level of saving shifts consumption toward the present. The optimal rate of saving balances consumption now against consumption in the future in a way that maximizes the total utility enjoyed by all people-that is, by those living now and those living in the future.
88 pages, Kindle Edition
First published June 1, 2000
About the author
Ian McDonald
8 books4 followersIan McDonald was born on 18 April 1933, in St Augustine, Trinidad.
He came to the then British Guiana in 1955 with the Booker Group of Companies. He has lived and worked in Guyana ever since. He spent a long career in the sugar industry.
He wrote poems, short stories, a novel "The Humming-Bird Tree" (1969), and an one-act play, "The Tramping Man" (1969).
He came to the then British Guiana in 1955 with the Booker Group of Companies. He has lived and worked in Guyana ever since. He spent a long career in the sugar industry.
He wrote poems, short stories, a novel "The Humming-Bird Tree" (1969), and an one-act play, "The Tramping Man" (1969).
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