The cost of aging: Economic growth perspectives for Europe.

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  • Additional Information
    • Source:
      Publisher: Public Library of Science Country of Publication: United States NLM ID: 101285081 Publication Model: eCollection Cited Medium: Internet ISSN: 1932-6203 (Electronic) Linking ISSN: 19326203 NLM ISO Abbreviation: PLoS One Subsets: MEDLINE
    • Publication Information:
      Original Publication: San Francisco, CA : Public Library of Science
    • Subject Terms:
      Economic Development* ; Aging*; Aged ; Humans ; Europe ; Spain ; Italy
    • Abstract:
      This study explores the causal relationship between the economy and the elderly population in 15 European countries. The economy was measured by the Per Capita Gross Domestic Product growth rate, while the population aged above 65 as a percentage of the total was considered the elderly population. The data were obtained from a time series dataset published by the World Bank for six decades from 1961 to 2021. The Granger causality test was employed in the study to analyse the impact between the economy and the elderly population. An alternate approach, wavelet coherence, was used to demonstrate the changes to the relationship between the two variables in Europe over the 60 years. The findings from the Granger causality test indicate a unidirectional Granger causality from the economy to the elderly population for Luxembourg, Austria, Denmark, Spain, and Sweden, while vice versa for Greece and the United Kingdom. Furthermore, for Belgium, Finland, France, Italy, Netherlands, Norway, Portugal, and Turkey, Granger causality does not exist between the said variables. Moreover, wavelet coherence analysis depicts that for Europe, the elderly population negatively affected the economic growth in the 1960s, and vice versa in the 1980s.
      Competing Interests: The authors have declared that no competing interests exist.
      (Copyright: © 2023 Jayawardhana et al. This is an open access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.)
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    • Publication Date:
      Date Created: 20230623 Date Completed: 20230626 Latest Revision: 20231120
    • Publication Date:
      20231215
    • Accession Number:
      PMC10289460
    • Accession Number:
      10.1371/journal.pone.0287207
    • Accession Number:
      37352177