The Canada Dry pensions system is in some countries one of the frequent routes to early retirement. It constitutes an informal substitute for early retirement programs. Accordingly, firms lay off aged workers they find costly for what they produce and, to get their support, supplement...

Classical theories -- Puzzles -- Stylized facts -- What matters -- What doesn't matter -- Aspects of general equilibrium -- General utility -- Consumption smoothing -- Local substitution -- Production -- Output -- Firms -- Inputs -- Smoothed output -- Units and unit value -- Consumption --...