The Economics of an Ageing Population studies the effects of demographic transition on the economies of industrialised countries. The authors demonstrate that an ageing population does not necessarily lead to a reduction in growth, providing that the working population are more productive and...

We estimate the impact of increased pension funding on national saving, both in public budgets and in the private sector. First, the experience of U.S. state governments in managing their employee pension funds suggests that their pension accounts are managed apart from the non–pension...

The U.S. tax system received two major overhauls during the 1980s: the tax cuts of 1981 and the Tax Reform Act of 1986. Supporters of both reforms argued that major changes in tax policy could boost saving, investment, labor supply, and entrepreneurship. Eventually, it was argued, such changes...

This paper presents the results of a controlled experiment designed to test the effectiveness of a targeted wage subsidy program. Such programs are intended to increase the employment of target group workers by offering employers reimbursement for part of those workers' wages. In the Dayton,...

Many politicians, gerontologists, and editorial writers have come to deplore the trend toward early retirement. This trend, which began after World War II and accelerated in the 1960s and 1970s, has led to a dramatic decline in work effort and earnings among the elderly. Opponents of early...