The aging of the American population will be a critical public policy issue in the years ahead. This paper surveys the recent literature on the economics of aging, with a special emphasis on government spending on the aged. The U.S. Census Bureau projects that the proportion of the elderly in...

S. Jay Levy presents a preliminary study of the consumption patterns of retirees and nonretirees during the 1980s, paying particular attention to the distribution of the national consumer product. The consumer product increased in aggregate size during the period, but the retirees' portion of it...

Population aging is typically associated with economic challenges for productivity and financial threats for the old-age financial protection system of a country. This paper takes an optimistic position and outlines key ingredients to make it a successful experience. Yet to turn this challenge...