factors such as fertility rates and longevity to prices. We show that lower fertility rates lead to smaller demand for credits …

differs dramatically depending on whether the change was induced by a change in the birth rate, the mortality rate or a …

Rising longevity and falling fertility threaten the sustainability of pay-as-you-go pension chemes. This paper shows … since the introduction of the scheme in 1957 would have required a gradual increase of the retirement age to at least 68 … not generate sufficient additional tax revenues to subsitute for the dearth of human capital caused by falling fertility …

This paper explores the interaction between retirement flexibility and portfolio choice in an overlapping - generations … model. We analyze this interaction both in a partial - equilibrium and general - equilibrium setting. Retirement flexibility …, that this positive relationship between risk taking and retirement flexibility is weakened - and under some conditions even …

extensive and intensive labour supply responses to changes in fertility rates, and (ii) the potential of a retirement reform to … fertility decline, a retirement reform, designed to increase labour supply at the extensive margin, is found to simultaneously … mitigate the effects of fertility changes on labour supply. In order to neutralize the effects on effective labour supply of a …

This paper examines the association between lifetime income and old age mortality risk, referred to as the income-mortality … gradient, in Italy during the 1980s and 1990s. We extend the literature by estimating the income-mortality gradient using Cox …, most importantly, by providing empirical evidence for Italy on the evolution of the income-mortality gradient between the …

Germany recent reforms that aim at raising retirement age and cutting benefit levels should be complemented by increases in …

The present paper develops a general equilibrium model with overlapping generations and endogenous fertility in order … to analyze the interaction between public policy and household labor supply and fertility decisions. The model …'s benchmark equilibrium reflects the current family policy as well as the differential fertility pattern of educational groups in …