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The evidence on the inflation impact of aging is mixed, and there is no evidence regarding the volatility of inflation …. Based on advanced economies' data and a DSGE-OLG model, we find that aging leads to downward pressure on inflation and … higher inflation volatility. Our paper is also the first, using this framework, to discuss how aging affects the transmission …
Persistent link: https://www.econbiz.de/10012103744
of Japan. We find that financing the costs of aging through gradual increases in the consumption tax rate delivers a …
Persistent link: https://www.econbiz.de/10011978385
This paper studies the effect of demographic change on national saving, global interest rates, and international capital flows, focusing on the role of the public pension system. We develop a small open economy overlapping generations model to illustrate the channels through which demographic...
Persistent link: https://www.econbiz.de/10011978553
The paper provides an empirical investigation of labor market pooling. The analysis concentrates on Italian industrial districts and shows that there is scattered evidence of a widespread wage premium. In particular, there is no evidence of district differentials for the returns to seniority...
Persistent link: https://www.econbiz.de/10014399936
China is on the eve of a demographic shift that will have profound consequences on its economic and social landscape. Within a few years the working age population will reach a historical peak, and then begin a precipitous decline. This fact, along with anecdotes of rapidly rising migrant wages...
Persistent link: https://www.econbiz.de/10014395426
China is on the eve of a demographic shift that will have profound consequences on its economic and social landscape. Within a few years the working age population will reach a historical peak, and then begin a precipitous decline. This fact, along with anecdotes of rapidly rising migrant wages...
Persistent link: https://www.econbiz.de/10009706770
A reduction in the legal workweek may induce a degree of downward wage flexibility, while an employment subsidy to firms accommodates downward wage rigidity. It may be possible, therefore, to increase employment with a policy that combines a reduction in the workweek with an employment subsidy....
Persistent link: https://www.econbiz.de/10014400528
project sizable declines in aggregate participation rates over the next three decades due to the aging of the population …
Persistent link: https://www.econbiz.de/10011866359
. We pick China as a case study since China has undergone a dramatic process of rapid aging and a tremendous reduction in … pension reform and rapid aging together contribute 55 percent of the increase in the household saving rate from 1995 to 2009 …
Persistent link: https://www.econbiz.de/10012009609
Austria faces significant population aging. This will increase public spending on pensions, health care, and long …-term care, while tax and social security revenues will fall. This paper analyzes the fiscal burden facing Austria due to aging … of aging and that fiscal sustainability is threatened, even under fairly optimistic assumptions about the effects of …
Persistent link: https://www.econbiz.de/10014399726