Unprecedented demographic changes are set to unfold in most of the industrialized world. They are relevant not only because of the diminishing pool of workers, but also because of the increasing importance of retirees as an economic class. Retirees' consumption and saving patterns can differ...

This paper employs (1) a three-sector structuralist model of development with informal and formal activities and (2) a global one-sector model with demand determined outputs and bargained distribution to investigate whether India's growth performance can be sustained, where the country might...

This paper explores macroeconomic policies that can sustain structural change in China and India. A two-sector open-economy model with endogenous productivity growth, demand driven output and income distribution as an important determinant of economic activity is calibrated to a 2000 SAM for...