This paper uses the Auerbach-Kotlikoff Dynamic Simulation Model to compare the projected demographic transitions in Canada and the United States. The simulation model determines the perfect foresight transition path of an economy in which individuals live to age 75. The model's preferences are...

In comparing Canada with the U.S., we first simulate the U.S. demographic transition, treating the U.S. as a closed economy. The time path of interest rates obtained from the U.S. simulations are then used in the Canadian simulations. In the Canada simulations, Canada is assumed to be an open...

This paper compares the predictions of three different saving models with respect to the impact of projected U.S. demographic change on future U.S. saving rates. The three models are the life cycle model, the infinite horizon altruism model, and a reduced form econometric model. The findings for...

This paper compares the predictions of three different saving models with respect to the impact of projected U.S. demographic change on future U.S. saving rates. The three models are the life cycle model, the infinite horizon altruism model, and a reduced form econometric model. The findings for...

Using two different measures of relative cohort size-one indicating the size and placement of an individual's own birth cohort, and the other, the ratio of young to prime age adults in the United States. in that year-it has been possible to isolate strong effects of the population age structure...

Using detailed estimates of personal consumption expenditures at the state level for 1900, 1929, 1970, 1977, and 1982 developed by Stanley Lebergott, this paper demonstrates that the passage of the Baby Boom from childhood through the teen years and into family formation would have caused marked...