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Economic Change and Restructuring

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01-04-2024

Tailoring social welfare and energy transition for an aging population

Authors: Li’ao Song, Cheng Jin

Published in: Economic Change and Restructuring | Issue 2/2024

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Abstract

This study employs OECD panel data from 2005 to 2021 and utilizes the CS-ARDL (Cross-sectionally Augmented Autoregressive Distributed Lag) method to reveal a notable positive correlation between the Human Development Index (HDI) and pension income levels. A 1% increase in HDI corresponds to approximately 0.6% and 0.7% increases in short- and long-term pension income. Additionally, green energy deployment positively influences pensions, with a 1% increase leading to about 0.09% and 0.17% increases in the short and long term, respectively. Economic size (GDP) demonstrates a robust positive relationship, and ICT development significantly impacts pension income levels. Policymakers are advised to prioritize local green power generation, sustainable pension funds, and green loans to enhance the welfare of aging populations in OECD countries.

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Title: Tailoring social welfare and energy transition for an aging population
Authors: Li’ao Song
Cheng Jin
Publication date: 01-04-2024
Publisher: Springer US
Published in: Economic Change and Restructuring / Issue 2/2024
Print ISSN: 1573-9414
Electronic ISSN: 1574-0277
DOI: https://doi.org/10.1007/s10644-024-09634-9

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