demographics and the productivity of those who will still be active during the up-coming period of demographic ageing. As … productivity is difficult to investigate at a micro level, the paper builds on a large macro-data panel covering developed as well … output per worker as well as on total factor productivity (TFP). The results confirm earlier findings by Feyrer (2007 …

investor to hold out. This model shows that the investment decision is based on the portfolio structure, risk aversion and …

different from other oil-rich countries. In five main ways, all of which suggest the need for economic diversification as an … efficient risk management strategy, the Dutch disease manifests itself through (i) An appreciation of the local currency in real … to economic development, including human and social capital. The need for diversification can be viewed in terms of …