We analyze the consumption and wealth inequality in an OLG model with mandatory pension systems. Our framework features … in TFP growth. We show four main results. First, increasing longevity translates to substantial increases in aggregate … consumption inequality and wealth inequality. Second, a pension system reform from a defined benefit to a defined contribution …

producing human capital. We also demonstrate that this attenuation effect tends to concentrate generational consumption risk … into an i.i.d. generational consumption shock. In other words, each generation bears all of the risk associated with their …

, this urban-size differential-ageing effect on inequality growth has been relatively small compared with the faster growth …

This paper quantifies the extent of heterogeneity in consumption responses to changes in real interest rates and house …, observed in the Household Finance and Consumption Survey (HFCS) for these countries. We then show that the heterogeneity in … household finances implies that responses of consumption to changes in the real interest rate and in house prices differ …

growth. …