We explore the optimal fertility age-pattern in a four-period OLG economy with physical capital accumulation. For that …'s Serendipity Theorem still holds. Finally, we study the dynamics and social optimum of an economy with interior fertility rates … during the reproduction period. It is shown that various fertility age-patterns are compatible with the social optimum, as …

egalitarian grounds - although the conclusion is reversed when mortality strikes only after retirement. … the retirement decision in an economy with risky lifetime, and compare the laissez-faire with egalitarian social optima … retirement age, unlike the ex ante egalitarian optimum. This result is robust to the introduction of unequal life expectancies …

Whereas existing OLG models with endogenous longevity neglect the impact of environmental quality on mortality, this …

We study how mortality reductins and income growth interact, looking at their relationship prior to the Industrial … differences in income. These channels are operative through differential mortality induced by medicine effectiveness that turns …

-as-you-go pension systems when population ages. When the fertility rate decreases or longevity rises, it is shown that a shift from …