The first part of the paper demonstrates how the economic analysis of the family helps us understand the dramatic changes undergone by the institution of the family in industrialized countries during recent years, including later marriage and motherhood, more divorce and one parent families,...

This paper examines the dynamic path of aggregate consumption resulting from the relaxation of borrowing constraints and changes in the age composition of the population. Using simulation analysis, it indicates that, because of overlapping generations, the adjustment to a new steady-state...

This review indicates that the aging of the European labor force does not appear to have major impacts. Compositional effects on average outcomes such as productivity are generally small and, where they are larger, small policy changes can usually eliminate their effects. The impacts of aging on...