This book presents a new computational approach to solving large-scale Auerbach-Kotlikoff Overlapping Generations (OLG) models in a complementarity format. Unlike with integrated solution methods, the proposed decomposition algorithm allows for the solution of multi-regional and multi-sectoral...

In this book the author investigates the impact of demographic change on economic growth. As a result of the current financial crisis, a new view on economics has been demanded by various scientists. The author provides such a new view on economic growth, using a methodology of system dynamics....

For almost 60 years, the Canadian Tax Foundation published an annual monograph, Finances of the Nation, and its predecessor, The National Finances. In a change of format, the 2014 Canadian Tax Journal introduced a new “Finances of the Nation” feature, which presents annual surveys of...

This paper develops a model to examine the macroeconomic implications of population aging. Using a general equilibrium framework, the analysis examines the various channels through which changes in demographics affect the economy. Age-earnings profiles are taken to summarize differences in...

In this paper I use a multi-period OLG model to study how a demographic shock is distributed among different generations. In particular, I investigate whether a funded pension system allows for a smoother adjustment than an unfunded system. The results suggest that the answer to this question...