We study the effects of an annuity market imperfection on individual agents' labour supply and retirement decisions and on the macroeconomic growth rate in an overlapping generations model with endogenous growth. We model imperfect annuities by introducing a load factor on the interest rate...

The U.S. economy is growing more slowly than it can and should be growing because it does not invest enough in infrastructure, science, and education. There is an important procedural obstacle to funding public investments — a process of scoring the economic effect of legislation. This process...

Introduction and overview -- Population dynamics in Brazil -- Old-age social protection programs and the aging challenge -- Health and long-term care -- Education and productivity -- Public finance implications of population aging: 2005-50 -- Financing Brazil's aging population : implications...