Physiological Aging around the World and Economic Growth
Physiological Aging around the World and Economic Growth
375/2018 Carl-Johan Dalgaard, Casper Worm Hansen and Holger Strulik
As the composition of the world population gradually shifts towards older age groups, it becomes increasingly important to understand the influence of aging on macro- economic outcomes of interest. Until now, however, it has been impossible to separate out the role played by demographics from the pure role of aging at the country level. Drawing on research in the fields of biology and medicine, the present study provides data on physiological aging. Our data shows that, over the last quarter of a century, the average person in the global labor force has not grown older in physiological terms. In an application of our panel dataset, we find evidence that accelerated physiological aging causally reduces labor productivity. Taken together, our analysis suggests that if productivity growth has deaccelerated in recent decades, physiological aging is unlikely to be a contributing force.
Culture and development