We assess the long-run growth effects of rising longevity and increasing the retirement age when growth is driven by … the retirement age fosters economic growth. How economic growth changes in response to rising life expectancy depends on … the retirement response. Employing numerical analysis we find that the requirement for experiencing a growth stimulus from …

We assess the long-run growth effects of rising longevity and increasing the retirement age when growth is driven by … the retirement age fosters economic growth. How economic growth changes in response to rising life expectancy depends on … the retirement response. Employing numerical analysis we find that the requirement for experiencing a growth stimulus from …

Phelpsís (1961) Golden Rule states an unambiguous relationship between optimal capital intensity and fertility: a rise … in fertility decreases the optimal capital intensity, because a higher fertility increases the investment required to … having distinct fertility behaviors. We derive the optimal accumulation rule in that framework, and we show that, unlike what …

function. Differences in population growth rates, life-expectancies, retirement durations, and the degree of concavity of the … growth trap” in economies where life expectancy is short, fertility rates are high, and households work most of their lives …

hundred age brackets and we investigate how changes in the birth rates, survival rates, and the retirement age affect the … for the present century, where birth and mortality rates in most western countries are steeply declining. …

We show that the long-run economic growth effect of an increase in the retirement age is unambiguously positive in …-by-doing-spillovers, in which an increase in the retirement age reduces physical capital accumulation and thereby economic growth. Our results …

mortality. The economy consists of two sectors: final goods production and a health care sector, selling medical services to … individuals. Individuals demand health care with a view to lowering mortality over their life-cycle. We derive the age …

and retirement, taking macroeconomic repercussions through endogenous factor prices and the pension system into account …