This book is an up-to-date, authoritative and comprehensive analysis of the key issues and challenges facing regional currency area projects in the context of financial globalization. The authors focus on several central issues that emerged during the experiences of the 1990s and 2000s: exchange...

We analyse the economic impact of a simultaneous aging shock in two countries. The countries are identical in all respects except the financing scheme of their public pension system. While one relies on capitalization, the other one relies on a pay-as-you-go scheme. We show that the two...

Nous examinons, d'un point de vue general, les differents canaux par lesquels une rupture demographique affecte l'economie; par exemple de la reduction des dettes publiques, nous montrons comment elle interfere avec les choix de politique economique.

Lorsqu'on examine le choix du systeme de retraite (par la repartition de al capitalisation), on se preoccupe en general de l'effet sur l'epargne, le taux d'interet et les salaires d'equilibre, donc sur le niveau de capital par tete de l'economie; aussi du rendement relatif de la repartition et de...

This paper provides some results from a model built in order to study the linked impacts of demography and economy on theFrench pension scheme. The demo-economic model which is used is a neo-cambridgian model with two types of agents in aclosed economy. Since it includes a very thin description...

This paper assesses the impact on growth and the inter-generational redistributive effects of some possible pension reforms in France using a dynamic general equilibrium model with overlapping generations. Results suggest that a reform increasing the effective average retirement age by 1.25...

This book is an up-to-date, authoritative and comprehensive analysis of the key issues and challenges facing regional currency area projects in the context of financial globalization. The authors focus on several central issues that emerged during the experiences of the 1990s and 2000s: exchange...