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The effects of population aging on South Korea’s economy: The National Transfer Accounts approach
اثرات پیری جمعیت بر اقتصاد کره جنوبی: رویکرد حسابهای انتقال ملی-2021 This study examines how two factors of population aging, changes in fertility and mortality, will respectively
affect South Korea’s economic future. The economic effects of population aging are examined by considering the
population in each age group under alternative demographic scenarios. Utilizing recent population projections
and South Korea’s National Transfer Accounts, the paper applies a simple decomposition model measuring the
respective effects of fertility and mortality on separate aspects of the economy: labor income, private and public
consumption, and public and private transfers. The results show that the effects of low fertility and low mortality
on the economy are very different in direction, magnitude, timing, and impact by age group. The only effect of an
aging population that is the same in all circumstances is the effect on the public pension system: low fertility and
mortality will increase pressure on the public pension system of South Korea. keywords: پیری جمعیت | باروری کم | حساب های ملی انتقال | بحران پیری کره جنوبی | اقتصاد نسل | Population aging | Low fertility | National Transfer Accounts | South Korea’s aging crisis | Generational economy |
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