endogenously adjust their education. Low ability agents experience higher welfare gains. Endogenous growth through human capital … formation is found to increase the long-run growth rate in the economy by 0.2-0.4 percentage points …

endogenously adjust their education. Low ability agents experience higher welfare gains. Endogenous growth through human capital … formation is found to increase the long-run growth rate in the economy by 0.2-0.4 percentage points …

human capital profile. In terms of welfare, while young agents with little assets gain up to 0.8% in consumption from …

We analyze the consumption and wealth inequality in an OLG model with mandatory pension systems. Our framework features … in TFP growth. We show four main results. First, increasing longevity translates to substantial increases in aggregate … consumption inequality and wealth inequality. Second, a pension system reform from a defined benefit to a defined contribution …

We analyze the consumption and wealth inequality in an OLG model with mandatory pension systems. Our framework features … in TFP growth. We show four main results. First, increasing longevity translates to substantial increases in aggregate … consumption inequality and wealth inequality. Second, a pension system reform from a defined benefit to a defined contribution …

This paper revisits the impact of population aging on economic growth. In order to understand the impact of population … aging on economic growth, it is important to consider the changes in the entire age distribution of demography. Our … working-age population lowers economic growth. We also investigate the effect of technological advances on the relation …

ages might be required to keep per capita income from declining. More rapid productivity growth would also offset …