In this paper a model is presented and estimated that explains real long-term interest rates
in terms of developments in low-frequency and high-frequency economic factors in a multi …

高储蓄是中国经济长期以来的基本特征. 1970~ 2010 年间中国平均国民储蓄率分别比世界平均
水平和OECD 国家平均水平高出15.9 和16.9 个百分点. 当前中国国民储蓄率正处于1970 …

The issue of unfunded public pension systems has moved to the centre of public debate all
over the world. Unfortunately, a large part of the discussions have remained on a qualitative …

We study the effects of pension reform on hours worked by three active generations,
education of the young, the retirement decision of older workers, and aggregate growth in a …

This paper quantifies the sectoral and transitional-dynamic impact of population ageing
arising from the combination of two important structural changes that will affect the Canadian …

Like virtually all developed economies, the United States is projected to experience a
dramatic demographic transition over the next 50 years. By 2040 31 percent of the US …

European regions differ considerably in their population age structure. This implies the
questions, whether a specific age structure is favorable for regional per capita output growth …

This study quantified the effects of immigration policies in an aging and depopulating Japan.
Under a constant total number of immigrants, it focused on the optimal period for an …

We study the effects of pension reform on hours worked, human capital, income and welfare
in an open economy populated by four overlapping generations: three active generations …