The extent of demographic changes in Europe is much more drastic than in the United States. This paper studies the effects of population aging on the interactions between economic growth and living standards in Europe with labor market and pension reform, behavioral adaptations, and...

A typical strategy for measuring the returns to international experience—comparing the earnings of returning migrants to comparable non-migrants—has been criticized for not adequately accounting for self-selection. I suggest an alternative, testing whether individuals born beyond US borders,...