Economic Aspects of Ageing

Objectives Population aging is taking place in developed countries and has caused some concerns in developing countries. Fallowing UAE and Bahrain, Iran has the third highest rate of population aging in the world and this increases the importance of the issue for policymakers. We aimed to review all the related studies to narrow on the economic aspects of the aging population. Methods & Materials To this end, methodology and result of vast empirical literature, up to 2012, has been summarized to assess the main effect of aging on macroeconomic indicators. Most of the collected studies related to the developed countries, due to the novelty of this phenomenon.   Results Findings showed that the main economic sectors heavily influenced by the growing share of aged peoples. These sectors are included labour market, physical and financial markets, pensions, human capital stock, consumption and saving, public sector budget which all consequently affect economic growth.   Conclusion It is hoped that this study will be a small step towards a scientific look at the economical aspect of ageing phenomenon and will stimulate further investigation

Multidimensional poverty index: A multilevel analysis of deprivation among Iranian older adults

Although the older adult population faces a higher risk of poverty compared to others, there is no clear picture of their poverty in Iran. The aim of this study was to measure multidimensional poverty and its related factors among Iranian older adults. This cross-sectional study was conducted from July to November 2019 and collected data by interviewing 1,280 participants in Tehran, Iran. To compute multidimensional poverty, four dimensions were used: health (disabilities), education, housing and standard of living. Single and multidimensional poverty and the joint distribution of deprivation were calculated. Multilevel logistic regression models were used to determine the relationship between predictor variables and outcome (multidimensional poverty). Multidimensional poverty among Tehran’s older people was 59.0 per cent. The prevalence of health, housing, education and standard of living deprivations were 15.4, 25.3, 29.5 and 29.9 per cent, respectively. Furthermore, multivariate analysis shows that living with a spouse, being employed, and having health and social insurance coverage were protective factors, while being female was a risk factor for multidimensional poverty. Approximately 21 per cent of multidimensional poverty variance was attributed to the district level and the remaining was assigned to individual-level factors. This study showed that the older adults living in different areas of Tehran experience different aspects of poverty. So paying attention to the dimensions of multidimensional poverty can play an important role in customising the policies of each district. Also, the findings of this study on risk and protective factors of multidimensional poverty can be effective in designing and implementing interventions to mitigate poverty among the older adults

Economic Value of Life in Iran: The Human Capital Approach

Background: The human life value is among the most important challenges of the health economic evaluation. This limitation has reduced the feasibility of applying the cost-benefit method in evaluations of health interventions and policies. Using the human capital approach and discounted value of future earnings, the present study calculated the human capital of different age groups. Methods: The required data were obtained using “income and expenditures of Iranian households” data in 2015 from the Statistical Center of Iran, which included the information on 19380 urban households. Results: According to the calculation of human capital, the maximum value of a statistical life year in the high-income group was related to the age group of 30-34 yr old (223,286 US$ equals to 9378 million Iranian Rials). The lowest value in all three groups of high, medium and low income is related to the age group of 85 and older. In addition, the economic value of statistical life year for men has been calculated as higher than that of women, however, in older age groups, the human capital of both genders have been converging. Conclusion: The economic value of life for young people aged between 20 to 30 yr was higher than other demographic groups. The findings of the research help to provide a more accurate base for the cost-benefit analysis of health and social policies. Considering the economic value of the statistical life for different age groups may change policy priorities in areas related to health and life of human beings