This paper focuses on the empirically observed relationship between demographic change and inflation and explores the theoretical nature of the puzzling link between the two. It puts the existent disparate empirical findings in the literature into perspective by formalizing an...

Over the course of China's economic reforms, a pronounced divergence in the labor force participation patterns of rural and urban elders emerged - rural elders increased their rates of participation while urban elders reduced theirs. In this project, based on the data of the Chinese population...

This paper analyzes the impact of subjective mortality risk on consumption and labor choice in a life cycle model. Using longitudinal data from the Health and Retirement Study (HRS), I estimate the intertemporal elasticity of substitution (IES) and the Frisch labor elasticity. Instead of...

We compare two policies of increasing British state pension provision: (a) increase the pensionable age of men and women, (b) maintain the existing retirement age but require older workers to work longer per-period hours. There are reasons for policy makers to give serious consideration to the...

Over the course of China's economic reforms, a pronounced divergence in the labor force participation patterns of rural and urban elders emerged – rural elders increased their rates of participation while urban elders reduced theirs. In this project, based on the data of the Chinese population...

Over the past 40 years, Australia has experienced significant changes to the proportion of the population that is attached to its labour market. From the early 1980s, the aggregate labour force participation rate rose steadily, climbing from around 60 per cent in 1983 to almost 66 per cent in...

The probability that an individual participates in the labor force declines precipitously beyond age 50. This feature of labor supply suggests that ongoing shifts in the age distribution of the population will put substantial downward pressure on the aggregate labor force participation rate....

We construct a new-Keynesian DSGE model tailored to the Netherlands and interpret it as a multivariate unobserved components model. We identify three major stochastic trends in the data — trends in general - purpose technology, investment-specific technology, and labor supply — and model...

Early retirement is usually explained as a supply-side phenomenon. However, early retirement can also be a demand-side phenomenon arising from a firm's profit maximization behavior. This paper analyzes voluntary and involuntary early retirement based on international microdata covering 19...

Without broad-based public pension schemes, the majority of the elderly in developing countries are left to rely on their own current and accumulated earnings and support from children as means of old-age support. We develop a cooperative bargaining model that allows us to jointly estimate the...