Aging of the Japanese population is currently progressing at a rapid rate, and will continue at a speed that no other developed nation has experienced before. Figure 1.1 presents the transition of the ratio of people aged 65 and above to the total population for five advanced countries. The percentage of Japan’s population aged 65 and above has increased by 8.2% during the 30 years from 1965 to 1995. This proportion is expected to increase further by another 14.2% during the next 30 years from 1995 to 2025: this increase in elderly population is of a drastic nature that no other population in the world has ever experienced.
KeywordsSaving Rate Aging Society Public Pension Representative Household Bequest Motive
Unable to display preview. Download preview PDF.