Consumption and labor earnings differ markedly from one another over the life cycle. These differences are made possible by various kinds of reallocations from one age to another. The reallocations take many forms, but they can be grouped into three analytically motivated categories.

This paper revisits the literature on overlapping generations models in the demographic context of a continuous age distribution and a general age schedule of mortality. We show that most of the static results known for the 3 or N age-group models can be extended to the continuous model. Some...

In Terrorism, Freedom, and Security, Philip B. Heymann undertakes a wide-ranging study of how the United States can - and in his view should - respond to the threat of international terrorism. Heymann makes clear his own policy and legal preferences. First, he firmly rejects the widely used...

We evaluate several actual and hypothetical sustainable PAYGO pension structures, including: (1) versions of the US Social Security system with annual adjustments of taxes or benefits to maintain fiscal balance; (2) Sweden's Notional Defined Contribution system and several variants developed to...

This article examines the relationship between household demographic pressure and interage transfers for a group of Maya subsistence agriculturists in Yucatán, Mexico. The authors use data from a field study conducted in 1992-93 on individual time allocation, relative productivity by age and...