Fehr, Hans; Jokisch, Sabine; Kotlikoff, Laurence J. - Institute for Social Research (ISR), University of Michigan - 2005
This paper develops a dynamic, life-cycle, general equilibrium model to study the interdependent demographic, fiscal, and economic transition paths of China, Japan, the U.S., and the EU. Each of these countries/regions is entering a period of rapid and significant aging that will require major...