efficiency instead of long-run welfare, since the latter approach understates the dramatic savings distortions arising from means …

changes in fertility and mortality on the developed world's demographic transition. The model features three regions - the U ….S., Japan, and the EU-15 - and incorporates age- and time-specific fertility and mortality rates, detailed fiscal institutions … economic consequences of both higher fertility and lower mortality rates. The simulations indicate very minor effects on the …

implicit differential taxation of savings motives and the mandatory annuitization of withdrawals after retirement. The … simulations performed for the German economy indicate that the differential taxation of savings motives has only modest efficiency …

, spending, social security, healthcare policy, deficit policy age-cohort- and country-specific mortality, age-specific fertility …

changes in fertility and mortality on the developed world's demographic transition. The model features three regions – the U ….S., Japan, and the EU-15 – and incorporates age- and time-specific fertility and mortality rates, detailed fiscal institutions … economic consequences of both higher fertility and lower mortality rates. The simulations indicate very minor effects on the …