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Does Population Aging Affect Income Inequality?

Does Population Aging Affect Income Inequality?
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Author(s): Gürçem Özaytürk (Niğde Ömer Halisdemir University, Turkey), Ali Eren Alper (Niğde Ömer Halisdemir University, Turkey)and Fındık Özlem Alper (Niğde Ömer Halisdemir University, Turkey)
Copyright: 2021
Pages: 16
Source title: Handbook of Research on Economic and Social Impacts of Population Aging
Source Author(s)/Editor(s): Yilmaz Bayar (Bandirma Onyedi Eylul University, Turkey)
DOI: 10.4018/978-1-7998-7327-3.ch017

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Abstract

This study analyzes the relationship between the elderly dependency ratio and income inequality over the period 1972-2019 in countries such as the USA, Japan, the UK, France, Germany, Canada, and Italy, which rank top in the population aging, using the Fourier-Shin cointegration test. According to the results, the rise in the elderly dependency ratio of all countries included in the analysis, except for France, has a positive impact on income inequality. The result implying that the rise in the elderly dependency ratio increases the income inequality and renders some policy recommendations possible. Accordingly, the provision of adequate childcare programs and family aids can result in greater labor force participation in the short- and long-run. In addition, a pension system can be developed to lower the elderly dependency ratio, more money can be saved for the retirement period, and working domains can be developed for the post-retirement period.

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