Demographic aging is a global phenomenon encountered especially in the developed states and is manifesting by the increase the share of people aged over 60-65 years in total population, a process that will affect all areas of the world in this century. In the coming decades, population aging...

This paper addresses the importance of compositional changes in the labor force for the development of the wage distribution. Demographic change and higher educational attainment imply a shift toward employees with more experience and/or better education. These groups are characterized by higher...

We assess the impact of population structure on economic growth. Following recent research, we focus on the generational turnover as a key driver of consumption growth. We characterize the impact of the average birth and death rates on the generational turnover, depending on the age-profile of...