This paper develops a model of centralized public spending where decision-makers are the regional median voters instead of the national median voter of the received literature. Regional representatives decide the level of public spending by bargaining in the central legislature. We study how...

This paper empirically analyzes the relationship between regional deposits and demographic changes. Using different types of deposit data from Japan which has experienced a sharp increase in the number of retirees, we provide clear evidence that an increase in the dependency ratio is negatively...

The middle and young aged people should save some share of their income for the third life period, when they will become the pensioners. We can assume that the state pensions won't be sufficient for all expenses we'll have in the pension. If we saving only 5 percent monthly of our income, after...

Population ageing in Italy is likely to accelerate in the next four decades. Thus, the proportion of the population over 65 years old is projected to strongly increase shifting from 20 per cent in 2010 to 32 per cent in year 2060 (Demographic Projections EUROPOP2010, released in April 2011 by...

The paper presents the results of a study that sheds light on the pension system and its dilemmas in Slovenia in light of current international macroeconomic changes and trends. We found that Slovenia has a pension system similar to that of other comparable economies (with the exception of the...

The demographic evolution and its consequences – population ageing - have been the topic of multiple research studies and analyses in many countries, industries or political regimes. Health care systems have been faced with questions regarding future financing, organization and resource...

Using growth accounting and econometric estimation methodologies, we investigate Thailand’s growth developments from 1972 to 2007 and project forward Thailand’s supply-side long-term potential growth till 2035. Our analysis is framed in terms of labor productivity and labor market...

We examine the impact of demographic structure, the proportion of the population in each age group, on growth, savings, investment, hours, interest rates and inflation using a panel VAR estimated from data for 20 OECD economies, mainly for the period 1970-2007. This flexible dynamic structure...

While research on subjective well-being has been well developed and documented in developed countries, the nature of subjective well-being of this category of population is still relatively unexamined in Malaysia. The purpose of this paper is to analyze the level of subjective well-being of the...

This article examines the evolution of retirement in Brazil and its old-age support programs (public pension). The key objective is to show that given the current trend in population and size of the programs, their sustainability in the near future may be endangered. In this paper, we also...