A transition in a Third World society from a system of familial support for the elderly to a system of individual responsibility through saving and investment would have effects in some respects similar to a transition from a Pay As You Go public pension system to a funded system. Such a...

Understanding the economic lifecycle %u2013 how it varies and why %u2013 is important in its own right, but is also critical to understanding how changes in population age structure influence many features of the macroeconomy. Economic behavior over the life cycle can be summarized by the...

Countries throughout the world are experiencing changes in their population age structure, but they are particularly rapid in East Asia. During the last part of the 20th Century the region benefited from an increased concentration of population in the working ages. Population aging is now the...