"Throughout the postwar era until 1995 labor productivity grew faster in Europe than in the United States. Since 1995, productivity growth in the EU-15 has slowed while that in the United States has accelerated. But Europe's productivity growth slowdown was largely offset by faster growth in...

This study uses Fehr, Jokisch, and Kotlikoffs̕ (2004a) dynamic general equilibrium model to analyze the effects of changes in fertility and mortality on the developed worlds̕ demographic transition. The model features three regions the U.S., Japan, and the EU-15 and incorporates age- and...