Suchergebnisse

Introduction -- The stylized facts -- Empirical evidence on the economic effects of automation -- A simple macroeconomic framework for analyzing automation -- Endogenous savings and extensions of the baseline model -- Automation as a potential response to the challenges of demographic change -- Policy challenges -- Peering into the future: long-run economic and social consequences of automation; with an epilogue on COVID-19.

Developing countries are increasingly aware of the need to design and implement improvements in public systems for providing pensions to the elderly. Such systems may aim to smooth consumption and thus provide reliable income to older people, reduce poverty among the elderly, insure those no longer working against the risk of running out of funds, and promote equal treatment of men and women in retirement security even when lifetime earnings and projected average life expectancy may differ greatly. The increasing share of the elderly in the population of all countries makes implementation of sustainable pension systems both more urgent and more difficult. Planners must consider numerous options in pension system design and choose the combination of policies that will optimize coverage, benefits, and financing given a country's demographics, history, practices regarding family support of the elderly, political system, extent of informal labour, and fiscal situation.

The world has enjoyed huge improvements in population health during the last half century. But major health problems persist, particularly in tropical countries, which are still struggling with infectious diseases while increasingly having to deal with noncommunicable diseases. Several classic arguments for public spending on health have buttressed governments' efforts to improve health. These efforts have now been further spurred by new economic arguments that better population health may promote economic well-being – via beneficial changes in labor productivity, education, and investment, and through demographic change. The economic consequences of improved health can be large, but realizing them depends on the policies adopted in myriad other arenas.

Health is a direct source of human welfare and also an instrument for raising income levels. The authors discuss a number of mechanisms through which health can affect income, focusing on worker productivity, children's education, savings and investment, and demographic structure. As well as the impact of current illness, health may have large effects on prospective life spans and life cycle behavior. Studies suggest there may be a large effect of health and nutrition in uteri, and in the first few years of life, on physical and cognitive development and economic success as an adult. Macroeconomic evidence for an effect on growth is mixed, with evidence of a large effect in some studies. However, there is a possibility that gains from health may be outweighed by the effect of increased survival on population growth, until a fertility transition occurs. The low cost of some health interventions that have large-scale effects on population health makes health investments a promising policy tool for growth in developing countries. In addition, higher priority could be given to tackling widespread 'neglected' diseases that is, diseases with low mortality burdens that are not priorities from a pure health perspective, but that do have substantial effects on productivity.