We simulate corporate tax reform in a single good, five-region (U.S., Europe, Japan, China, India) model, featuring …

, and economic transition paths of China, Japan, the U.S., and the EU. Each of these countries/regions is entering a period … prospects. And, rather than seeing the real wage per unit of human capital fall, the West and Japan see it rise by one fifth by …

elderly in the U.S., the EU, and Japan will more than double. At the same time, the number of workers available to pay the … life-cycle model. The model has three regions the U.S. Japan which exchange goods and capital. The model features …