Worldwide, dependency ratios are forecast to increase dramatically in the next 50 years. A great deal of attention has been devoted to understanding the changes in fiscal policies that must' take place to accommodate these changes. In contrast, less effort has been concentrated on studying the...

The conventional wisdom in the literature on capital controls and growth argues that capital controls increase the ability of a government to tax capitalists which proves detrimental for growth. To address this issue, we construct an OLG model to study the effect of capital controls on human...

A large number of pairs of countries exhibit a dynamic pattern in which: (i) Fertility in both countries declines across time; (ii) Initially one country has higher fertility and lower per-capita income compared to the other; (iii) In time, as per-capita income converges, fertility rates in the...