Birth rates are dropping to ever-lower levels around the world. Populations are growing more slowly and, in some cases, beginning to decline. Rapid population aging has begun in the West and parts of Asia and is just over the horizon elsewhere. The demographic changes, their economic...

This unique book contains novel and in-depth research regarding economic development in Japan. The authors examine economic development in Japan from both theoretical and empirical perspectives. Using general equilibrium growth accounting and the overlapping generations model, they analyze the...