This study quantifies the effect of aging on the age-wage profile, using data from Japan, which is the fastest aging country in the world. Using a model with imperfect substitution among labor inputs in different age groups, we obtain two findings. First, the change in age composition of male...

Government-issued longevity bonds would allow longevity risk to be shared efficiently and fairly between generations. In exchange for paying a longevity risk premium, the current generation of retirees can look to future generations to hedge their systematic longevity risk. Longevity bonds will...

An important determinant of the transmission and outcomes in patients is the age distribution of the population. Using U.S. county-level daily data on confirmed COVID-19 cases, I find a positive relationship between the growth rate of cases and the fraction of the very young (aged 0 to 17) in...