The rapidly aging populations of many developed countries--most notably Japan and member countries of the European … fertility behavior and productivity growth. They present theoretical arguments to the effect that public pension coverage as …, Japan, and the United States), the authors offer an empirical and theoretical analysis and a simulation of the effects of …

pressure to rationalise. Greater rationalisation should, however, have led to an increase in labour productivity, but this has … been a marked slowdown in the rate of productivity advance. Why is this, and what is the outlook for the future? …