The Economics of Ageing—What do you Face?

Abstract

The economics of ageing is the study of economic decision-making by individuals and government aimed at fostering well-being in old age. These decisions include preparing for old age and dealing with the risks of old age. The risks are substantial. Using the life-cycle model, this article considers the risks for well-being that people face in retirement and the role of government and private insurance in meeting those risks. The perspective of the life-cycle model is also used to consider the gender gap in wealth on retirement.