In many European countries, due to population aging, the switch from conventional unfunded public pension systems to notional systems character- ized by individual accounts is in debate. In this article, we develop an OLG model in which endogenous growth is based on an accumulation of knowledge...

In many European countries, due to population aging, the switch from conventional unfunded public pension systems to notional systems character- ized by individual accounts is in debate. In this article, we develop an OLG model in which endogenous growth is based on an accumulation of knowledge...

It has been believed that a social security system (SSS) is harmful to economic growth. However, it has been recognized recently that a SSS can encourage economic growth if the engine of the growth is human-capital accumulation. This paper uses an analytical model à la Uzawa/Lucas to examine...

Using a model with endogenous growth and overlapping generations as its base, this paper analyzes the relationship between the ageing of the population and the rate of economic growth in an open economy. The results suggest that population ageing can decrease the economic growth rate in the long...