Population aging will be a major determinant of long-run economic development in industrial and developing countries. The extent of the demographic changes is dramatic in some countries and will deeply affect future labor, financial and goods markets. The expected strain on public budgets and...

"This book examines the growth of careers outside a traditional standard employment pattern and how those in "atypical jobs" will fare in retirement, analyzing how the interplay between labor market reforms/trends and pension reforms will affect income security in old age during future decades"--

The paper shows the effect of demographic change on per capita burden of financing a PAYG social security system in the standard OLG model with frictional labor markets. Rising longevity and decreasing fertility both induce a rise in the employment level via increased capital accumulation and...