Increasing longevity causes an upward trend in the dependency ratio in many countries. This raises concerns about the financial sustainability of social security schemes, and reform initiatives and proposals abound. It is shown that a fundamental policy choice inevitably arises since a given...

Many countries face the problem of how to reform social security systems to cope with increasing life expectancy. This raises questions concerning both distribution and risk sharing across generations. These issues are addressed within an OLG model with stochastic life expectancy across...

Increasing longevity causes an upward trend in the dependency ratio in many countries. This raises concerns about the financial sustainability of social security schemes, and reform initiatives and proposals abound. It is shown that a fundamental policy choice inevitably arises since a given...

Japan's population ageing is unprecedented in modern industrial economies. An ageing population in Japan requires policy measures to encourage lifelong social and economic participation in order to counteract a shrinking workforce and productivity declines. This paper suggests several policy...

From the demographic perspective, the 21st century is the population ageing century. Population ageing is well underway in all Asian countries as a result of the spectacular falls in both fertility and mortality rates in the second half of the 20th century.

Japan's population ageing is unprecedented in modern industrial economies. An ageing population in Japan requires policy measures to encourage lifelong social and economic participation in order to counteract a shrinking workforce and productivity declines. This paper suggests several policy...

From the demographic perspective, the 21st century is the population ageing century. Population ageing is well underway in all Asian countries as a result of the spectacular falls in both fertility and mortality rates in the second half of the 20th century.

Japan's population ageing is unprecedented in modern industrial economies. An ageing population in Japan requires policy measures to encourage lifelong social and economic participation in order to counteract a shrinking workforce and productivity declines. This paper suggests several policy...

From the demographic perspective, the 21st century is the population ageing century. Population ageing is well underway in all Asian countries as a result of the spectacular falls in both fertility and mortality rates in the second half of the 20th century.

Developing countries are increasingly aware of the need to design and implement improvements in public systems for providing pensions to the elderly. Such systems may aim to smooth consumption and thus provide reliable income to older people, reduce poverty among the elderly, insure those no...