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In developed countries the phenomenon of population aging is happening because of longer life expectancy as well as lower birth rates and lower population growth
In developed countries the phenomenon of population aging is happening because of longer life expectancy as well as lower birth rates and lower population growth rates. Explain how the life-cycle theory can be used to deduce that while longer expected life increases individual and aggregate savings, a lower population growth rate may increase per capita saving in the short run but reduces it in the long run. How does the LC theory suggest that immigration from developing countries maybe favorable for increasing aggregate consumption and savings in developed countries
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