Differences in life expectancy between high and low socioeconomic groups are often large and have widened recently in many countries. Such longevity gaps affect the actuarial fairness and progressivity of public pension systems. However, behavioral responses to longevity and policy complicate...

Over the demographic transition, declining fertility leads to rising support ratios and consumption during the first divided phase, followed by falling support ratios as population ages. Might human capital investments rise sufficiently as fertility falls to preserve the initial gains? Using a...