adjustments will have to be made. No single feasible policy adjustment is likely to be an acceptable or a sufficient response to the challenge and opportunity of population aging. An aging society need not have lower living standards, slower growth in innovation and productivity, or inefficiently high tax rates. But delaying decisions on how to adapt to our aging demographic structure will make the transition more difficult and costly.
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Aging and the Macroeconomy: Long-Term Implications of an Older Population.
Washington, DC: The National Academies Press, 2012.
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