We examine the dynamic interaction of the population age structure, economic dependency, and fertility, paying … particular attention to the role of intergenerational transfers. In the short run, a reduction in fertility produces a %u201 … probabilistic fashion. We show that most highly developed countries have fertility below the rate that maximizes steady state …

We examine the dynamic interaction of the population age structure, economic dependency, and fertility, paying … particular attention to the role of intergenerational transfers. In the short run, a reduction in fertility produces a quot … probabilistic fashion. We show that most highly developed countries have fertility below the rate that maximizes steady state …

We examine the dynamic interaction of the population age structure, economic dependency, and fertility, paying … particular attention to the role of intergenerational transfers. In the short run, a reduction in fertility produces a … probabilistic fashion. We show that most highly developed countries have fertility below the rate that maximizes steady state …