We build on the DSGE literature to propose an overlapping generation model for Luxembourg. By way of illustration, the model is then used to study the consequences of the ageing of the population and the potential effects of alternative macroeconomic policies.

We offer an alternative explanation for the decline in labor force participation of senior workers. Typically, tax and transfer explanations have been proposed. On the contrary, a model with imperfectly competitive labor market allows to consider as well the effects of a drop in bargaining...

While ageing is accepted as a major problem for most industrialized societies, its labour market consequences are not yet fully understood. This paper analyses the effects of changes in the age composition of the Federal Republic of Germany on the incidence of unemployment in different sex-age...

The persistence of socioeconomic outcomes across generations acts as a barrier to a society’s ability to exploit its resources efficiently. In order to derive policy measures which aim at accelerating intergenerational mobility, we review the existent body of research on the causes, effects...

The persistence of socioeconomic outcomes across generations acts as a barrier to a society's ability to exploit its resources efficiently. In order to derive policy measures which aim at accelerating intergenerational mobility, we review the existent body of research on the causes, effects and...

Labour force participation rates vary greatly by age, with persons 55 and over having much lower participation rates than younger persons. Consequently, changes in the demographic composition of the population can exert a long-run effect on aggregate participation rates. In the third article of...

In contrast to the decline in labour force participation in Canada in the 1990s, the aggregate participation rate in the United States actually rose slightly (up 0.5 percentage points between 1989 and 1997). This US experience provides a useful benchmark for the analysis of the Canadian...

This paper presents a model of Belgian household consumption, with a focus on private health expenditures. To do so, we have formulated and estimated an extension of the classic Almost Ideal Demand System. The original model has been modified by introducing a dynamic adjustment mechanism and by...

The participation rate of women aged 25-64 rose greatly in the 1970s and 1980s, but has stagnated in the 1990s. In principle, this development could reflect either the poor growth performance of the economy this decade or the completion of the integration of women into the labour force. In the...