This chapter analyzes the effects of an aging population on individual skill choices and the production structure by … means of a dynamic general equilibrium model with overlapping generations and probabilistic aging. The model allows for … labor gives a boost to GDP. Hence, the often cited adverse effects of aging are mitigated and can be overcome when taking …

long run. According to our simulations, the budget of the BPS will be highly sensitive to the ages of retirement and to the …

-control are more likely to invest in illiquid pensions while less likely to hold very liquid forms of assets. …

The Commission was asked in February 2001 to review the Superannuation Industry (Supervision) Act and certain other … superannuation legislation. Superannuation savings are growing rapidly and now amount to more than $500 billion. Most of the … workforce is covered by superannuation. The community therefore has a strong interest in the prudent management and supervision …

We examine the role of changing mortality in explaining the rise of retirement over the course of the 20th century. We … of death. In an environment in which mortality is high, an individual who saved up for retirement would face a high risk …. As mortality falls, however, it becomes optimal to plan, and save for, retirement. We simulate our model using actual …