This paper analyzes the effects of population aging on the preferred legal retirement age. What is revealed is the … decision. Two Social Security systems are studied. Under a defined contribution scheme aging lowers the preferred legal …

This paper analyzes the impact of aging on capital accumulation and welfare in a country with a sizable unfunded social … shows that the type of aging, i.e. declining fertility or increasing longevity, and the type of unfunded social security … provides a refinement to common policy recommendations that favor eliminating mandatory early retirement regulations in aging …

This paper analyzes the impact of demographic aging on capital accumulation and welfare in economies with unfunded … the type of aging, i.e. declining fertility or increasing longevity, and the type of pension system, i.e. defined … contributions or defined benefits, are important in understanding this impact. Results show that when aging is driven by increasing …

We analyze the impact of population aging on Japan's household saving rate and on its public pension system and the …'s population can explain the level of, and past and future trends in, its household saving rate; second, the rapid aging of Japan …-as-you-go nature of the public pension system, combined with rapid population aging, created considerable intergenerational inequities …