At the Richmond Fed: Wiser Policy for Seniors
Abstract: The American population is aging rapidly. The share of people who are 65 or older grew from 12 percent in 2000 to 17 percent in 2020. It's forecast to grow to 22 percent by 2040, according to the U.S. Census Bureau. In view of this trend, economists are attempting to improve their understanding of the economic decisions facing older people — decisions that are likely to become increasingly important for the U.S. economy as the population distribution skews older.
Keywords: aging; Life-cycle models; Social Security reform;
File format is application/pdf
Description: Journal Article
Provider: Federal Reserve Bank of Richmond
Part of Series: Econ Focus
Publication Date: 2023