Public pension systems of the G7 countries were established in an era when contributors far outnumbered beneficiaries. Now, for each beneficiary there are fewer contributors, and this trend is projected to accelerate. To evaluate the prospects for these economies we develop an endogenous growth...

When individuals make decisions regarding their allocation of time and income, the health investment and health that they achieve may fall short of the goals prescribed by medical guidelines and health policymakers. Instead of the oft-observed policy responses such as additional spending on...