The increase in the ratio of the elderly to the working age population as the demographic transition of low fertility and low mortality proceeds, has spurred a discussion concerning the equity of intergenerational transfers. The central question is if and how the state can afford the pensions...

The demographic factors that helped trigger the debate about generations and equity will grow in importance, which is a straightforward prediction from the current age structures. This warrants further scientific inquiries. It is also likely to require new policies, or changes in the design of...