In this paper I explore the quantitative implications for savings of population aging. In doing
so, I pay particular attention to some features that have been partially over-looked in the …

The Hungarian public pension system is a defined benefit scheme financed on a pay-as-you-
go (PAYG) basis that has reached a high degree of maturation. Like PAYG schemes in many …

In this paper, I analyze the determinants of saving in Japan using national income accounts
data for the 1955-87 period. My results suggest that the age structure of the popu lationis the …

The paper describes an OLG economy with a single exhaustible resource that has amenity
value. The steady states of this economy form a continuum, implying path-dependency. We …

The developed word stands at the fore of a phenomenal demographic transition. Over the
next 30 years the number of elderly in the US, the EU, and Japan will more than double. At …

Population aging has spurred developed countries around the world to reform their PAYG
pension systems. In particular, delaying legal retirement ages and reducing the generosity of …

The effect of pension systems on public and private saving is important-savings are a crucial
link between decisions today and living standards tomorrow. This paper, following a brief …

The paper examines the effects of demographic changes on government budgets and
national savings. Most OECD countries will experience a rapid ageing of the population in …

This paper discusses the consequences of population aging and a fundamental pension
reform-that is, a shift towards more pre-funding-for capital markets in Germany. We use a …

The low birth rates experienced by most OECD countries during the past decades have
reduced their population growth rates and will drastically alter their age compositions in the …