Europe's demographic problem (an ageing population) is well-known and has been the object of a number of research projects in the EU. As an example of the scale of the problem, the percentage of persons 55 or older in the overall population of the EU was 30% in 2010, and is expected to rise to...

This study quantifies the effect of aging on the age-wage profile, using data from Japan, which is the fastest aging country in the world. Using a model with imperfect substitution among labor inputs in different age groups, we obtain two findings. First, the change in age composition of male...