Alho, Juha M. (contributor); Borgy, Vladimir (contributor) - 2007
coincides with a collapse of fertility (to 1.4 children
per woman in 1995, against 2.0 in the U.S. and 1.7 in Europe). This … leads to a decline of the
working-age population, in 2005. Western Europe is also expected to undergo ageing as its … expressed in a common numeraire, which is the price of the intermediate
good in North America. This convention allows us to …