Despite similar levels of per capita income, education and technology, the development of labour income shares in OECD countries has displayed different patterns since 1960. The paper examines the role of demography in this regard. We first use a standard overlapping generations model to derive...

The EU and the US confront distinct factor market dynamics and common policy challenges. Labor market developments and long-term changes in capital markets and capital flows represent key problems in aging societies. This book charts the role of different innovation systems and knowledge...