Slower growth of the labour force and an increase in old-age dependency will reduce the growth of aggregate output and output per capita in many developed countries. However, a major question is whether there is any systematic link between demographics and the productivity of those who will...

Slower growth of the labour force and an increase in old-age dependency will reduce the growth of aggregate output and output per capita in many developed countries. However, a major question is whether there is any systematic link between demographics and the productivity of those who will...

Slower growth, or even a decline, of the labour force and an increase in old-age dependency will slow down the growth of aggregrate output and output per capita in many developed countries. However, a major question is whether there is any systematic link between demographics and the...