"This ninth volume of the International Social Security series, which studies the social security and retirement …

, endogenous human capital formation and increasing the retirement age. Our quantitative finding is that endogenous human capital … formation in combination with an increase in the retirement age has strong implications for economic aggregates and welfare, in …

accumulated for retirement. This paper addresses three important adjustments channels to dampen these detrimental effects of … ageing: investing abroad, endogenous human capital formation and increasing the retirement age. Although non of these … retirement age has strong effects. Under these adjustments maximum welfare losses of demographic change for households alive in …