Kuhn, Michael; Prettner, Klaus - Institut für Wirtschaftsmathematik, Technische … - 2015
generational turnover as a key driver of consumption growth. We characterize the impact of the average birth and death rates on the … generational turnover, depending on the age-profile of consumption and on the extent of annuity market imperfection. Using recent … the sign and magnitude of generational turnover and its impact on consumption growth. We find considerable cross …