This paper examines the impact of the aging demographic structure of the U.S. on its funded private pension system. A 75-year outlook is produced for the pension system corresponding to the 75-year forecast of the Social Security system. The primary result is that the pension system will cease...

This paper examines the impact of the aging demographic structure of the U.S. on its funded private pension system. A 75-year outlook is produced for the pension system corresponding to the 75-year forecast of the Social Security system. The primary result is that the pension system will cease...

This paper studies the effect of demographic change on national saving, global interest rates, and international capital flows, focusing on the role of the public pension system. We develop a small open economy overlapping generations model to illustrate the channels through which demographic...

This paper outlines some of the arguments for and against the funding of public pensions, with a view to establishing whether there is an economic basis for judging funding to be superior to pay-as-you-go (PAYG). It is argued that funding does not have a clear advantage, and the case for a shift...

The effect of changes in demographic structure on medium-run trends of key macroeconomic variables is estimated using a Panel VAR of 21 OECD economies. The panel data variability assists the identification of direct effects of demographics, while the dynamic structure uncovers long-term effects....

We examine the impact of demographic structure, the proportion of the population in each age group, on growth, savings, investment, hours, interest rates and inflation using a panel VAR estimated from data for 20 OECD economies, mainly for the period 1970-2007. This flexible dynamic structure...

This paper examines two environmental impacts for which population has a substantial demonstrated influence: transport carbon emissions and residential electricity consumption. It takes as its starting point the STIRPAT framework and disaggregates population into four key age groups: 20-34,...

The effect of changes in demographic structure on medium-run trends of key macroeconomic variables is estimated using a panel VAR of 21 OECD economies. The panel data variability assists the identification of direct effects of demographics, while the dynamic structure uncovers long-term effects....