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Demographic change has differential impacts on the welfare of current and future generations. In a simple closed economy, aging -- a relative scarcity of young workers -- increases wages, increasing the welfare of the young. At the same time, population aging will reduce rates of return to...
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New methodology for producing employment microsimulations is introduced, with a focus on farms and household nonfarm … enterprises. Previous simulations have not dealt with the issue of reduced production in farm and nonfarm household enterprises … when household members are placed in paid employment. In this paper, we present a method for addressing the trade …
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