This note shows that the long-run effect in the case of a low skill trap in Bräuninger and Vidal (Journal of Population Economics (2000) 13:387–401) contains a mistake. While not affecting the paper's basic intuition, this implies that the discussion in the short-run analysis also applies in...

This paper presents a new method to clarify intergenerational effects of the demographic change in industrialized countries, i.e., the trend of aging. Recognized effects of aging are twofold; a disincentive effect and a product variety effect. The results are consistent with the empirical...