This paper analyzes the impact of aging on capital accumulation and welfare in a country with a sizable unfunded social … shows that the type of aging, i.e. declining fertility or increasing longevity, and the type of unfunded social security … provides a refinement to common policy recommendations that favor eliminating mandatory early retirement regulations in aging …

This paper introduces aging of workers into the neoclassical theory of labor demand. Among other things, it is shown … standard model without aging, the analysis of such issues has not been possible up to now. The main results derived for …

increasing support for private health expenditures in an aging economy leads to a higher level of capital accumulation and leads …

This paper analyzes the impact of demographic aging on capital accumulation and welfare in economies with unfunded … the type of aging, i.e. declining fertility or increasing longevity, and the type of pension system, i.e. defined … contributions or defined benefits, are important in understanding this impact. Results show that when aging is driven by increasing …

In this paper we consider the effects of population aging on a pay-as-you-go financed defined contributions pension … scheme. We show that when retirement decisions are endogenous, aging increases the retirement age and the steady state level …