This paper employs a multi-country large scale Overlapping Generations model with uninsurable labor productivity and mortality risk to quantify the impact of the demographic transition towards an older population in industrialized countries on world-wide rates of return, international capital...

Economic theory suggests that variations in countries' age structure should affect the economy on an aggregate level. This paper investigates the relationship between age structure and GDP in 20 OECD countries using annual data from 1970 to 1999. Using new methodology, the relationship between...

In recent research age distribution effects on the current account have been found in cross-country panel regressions. The reason is different effects on saving and investment from cohort-size variation. In a panel of annual OECD data 1960-1995, we find that the age effects on saving are similar...

Despite similar levels of per capita income, education, and technology the development of labour shares in OECD countries has displayed different patterns since 1960. The paper examines the role of demography in this regard. Employing an overlapping generations model we first examine the...

In this article, an updated approach to investigate the effects of demographic fac- tors on economic growth is proposed. The initial hypothesis was that these factors significantly affected production proportions, determining development vectors. The predictable shifts in production dynamics are...

In allen OECD-Ländern sind die Geburtenraten in den letzten vierzig Jahren erheblich gesunken. Trotz dieses gemeinsamen Trends kann aber sowohl in der zeitlichen Entwicklung als auch im aktuellen Stand des Geburtenverhaltens eine erhebliche Heterogenität beobachtet werden. Deutschland, Spanien...

Over the past century, all OECD countries have been characterized by a dramatic increase in economic conditions, life expectancy and educational attainment. This paper provides a positive theory that explains how an economy might evolve when the longevity of its citizens both influences and is...