Japan faces the problem of how to finance retirement, health, and long-term care expenditures as the population ages … of Japan. We find that financing the costs of aging through gradual increases in the consumption tax rate delivers a …

/subsidy and a labor tax/subsidy. Labor shocks, such as the COVID-19 shock, amplify the policy responses, which critically depend …

pressures at the peak of the demographic shock as much as increasing the retirement age in line with life expectancy (4 … percentage points of GDP). These reforms and prefunding the demographic shock mitigate the adverse macroeconomic effects of aging … those increasing the retirement age under alternative tax policies. The analysis is based on a model in the Auerbach …

. We pick China as a case study since China has undergone a dramatic process of rapid aging and a tremendous reduction in … pension reform and rapid aging together contribute 55 percent of the increase in the household saving rate from 1995 to 2009 …

project sizable declines in aggregate participation rates over the next three decades due to the aging of the population …

While the COVID-19 pandemic is affecting all countries, output losses vary considerably across countries. We provide a …

shock would improve the female share of employment by 0.28 percentage point during recessions. Our findings are driven by …Would countercyclical fiscal policy during recessions improve or worsen the gender employment gap? We give an answer to … countries. Using the local projection method, we find that, during recessions, a positive spending shock of 1 percent of GDP …