Japan faces the problem of how to finance retirement, health, and long-term care expenditures as the population ages …

We study, both empirically and quantitatively, the role of savings and the labor supply in self-insurance channels over … social security benefits for the period 1995-2009. We find that both savings and the labor supply are quantitatively … adjustment to savings and labor supply have significant macroeconomic implications. Applying the model to China, we find that the …

the elderly. This study suggests that these demographic trends may lead to a decline in the G-7 private savings rate after …

incorporate the effects of macroeconomic uncertainty on private savings behavior. It is shown that the greater the uncertainty in … savings and, other things equal, the larger is the current account surplus. Empirical support for the model is found using …

relationship between total regional saving and investment is significantly negative in Canada and the United Kingdom, in contrast … is negative in Canada which suggests that capital is mobile for individuals. The relationship between retained earnings … and private investment is significantly positive in the U.K. and Canada suggesting capital immobility for firms but a test …

We compare the long-term output and current account effects of pension reforms that increase the retirement age with … a policy trade-off. Pension reforms that increase the retirement age have a large positive effect on output, but a small …

those increasing the retirement age under alternative tax policies. The analysis is based on a model in the Auerbach … pressures at the peak of the demographic shock as much as increasing the retirement age in line with life expectancy (4 …