Organisation of households: Aging, secular stagnation and population policies Phuah Eng Chye (31 March 2018) The hypothesis that changes in household structures increase labour market frictions[1] and weaken household and business formation[2] is consistent with secular stagnation theories on how aging dampens consumption, employment, productivity and production and exerts long-term downward pressure on economic growth … “Organisation of households: Aging, secular stagnation and population policies”