Japan's aging population poses a variety of problems, one of which is the increase in neurological disorders. In this study, we propose a framework quantifying the decline in gross domestic product (GDP) resulting from the reduction of labor from two neurological disorders, Alzheimer's disease...

Concerns over the adequacy of low and middle-income earner contributions to retirement plans have led governments to introduce targeted matching schemes. In this study, we examine the effects of a simple and generous Australian scheme using administrative tax-filer data, exploiting longitudinal...

Pensions may be provided for in a modern society by a mix of several methods, namely by voluntary individual savings, mandatory fully-funded occupational pension systems, mandatory social security financed by pay-as-you-go, and old-fashioned hoarding in cash. Here, we call the specific mixture...

We assess the long-run growth effects of rising longevity and increasing the retirement age when growth is driven by purposeful research and development. In contrast to economies in which growth depends on learning-by-doing spillovers, raising the retirement age fosters economic growth. How...

We study the effect of ageing, defined an extra year of life, on health care utilisation. We disentangle the direct effect of ageing, from other alternative explanations such as the presence of comorbidities and endogenous time to death (TTD) that are argued to absorb the effect of ageing...

We build a life-cycle model in which a representative firm produces a final good using routine and non-routine labor as well as traditional and automation capital (e.g. robots). Robots can substitute for routine labor. We show that both, population aging and higher robot productivity, foster the...

This paper analyses the macroeconomic implications of a future shift in the age structure of the Swiss population. It estimates the long-run effects for Swiss GDP growth and its components in an Overlapping Generations Model (OLG model). Recent population projections by the Federal Statistical...

Several European countries are currently considering reversing parts of their pension reforms that were adopted previously to improve sustainability. In this paper we present a framework that allows us to quantify the macroeconomic and fiscal costs of such reversals. We thereby integrate the...

We study the effect of ageing, defined an extra year of life, on health care utilisation. We disentangle the direct effect of ageing, from other alternative explanations such as the presence of comorbidities and endogenous time to death (TTD) that are argued to absorb the effect of ageing (...

Die bisherige Erfahrung mit der Teilprivatisierung der gesetzlichen Rente zeigt, dass die ursprünglichen Versprechen weder hinsichtlich der Leistungsfähigkeit noch der Generationsgerechtigkeit erfüllt werden. Sowohl angesichts der aktuellen Situation als auch aufgrund von theoretischen...

We assess the long-run growth effects of rising longevity and increasing the retirement age when growth is driven by purposeful research and development. In contrast to economies in which growth depends on learning-by-doing spillovers, raising the retirement age fosters economic growth. How...

This paper presents long term projections of the German pension system that are based on a general equilibrium model with overlapping generations (OLG). This framework takes into account the two way feedback of both micro and macroeconomic relationships, meaning that households, for example,...

This paper revisits the impact of population aging on economic growth. In order to understand the impact of population aging on economic growth, it is important to consider the changes in the entire age distribution of demography. Our empirical analysis indicates that a change in age...

Pension schemes have a significant influence on the saving and consumption decisions of households. Similarly, contributions to pension arrangements are substantial expenditures for national governments and also for corporations, depending on the prevailing pension system. Beyond this, pension...

We explore future job creation needs under conditions of demographic, economic, and technological change. First, we estimate the implications for job creation in 2020-2030 of population growth, changes in labor force participation, and the achievement of plausible target unemployment rates,...

The labour market in Romania is under the pressure of divergent factors, at the intersection of the labour demand and supply determinants. This paper is focusing on quantitative and qualitative analysis of the labour market in Romania, trying to identify its imbalances and to find ways for their...

In this article, we present a model that can account for the changes in the Germancurrent account balance since the 2000s. Our results suggest that an array of struc-tural tax and labor market reforms (Agenda 2010), population aging and pensionreforms led to an increase in the household savings...

This study investigates the relationship between demography and inflation using panel cointegration for 24 countries during 1961-2014. It shows that the age structure of the population affects inflation. The answer to the question "is population aging inflationary or disinflationary?" depends on...

In dieser 14. Aktualisierung der "Bilanz des ehrbaren Staates" werfen die Stiftung Marktwirtschaft und das Forschungszentrum Generationenverträge der Universität Freiburg einen ungeschminkten Blick auf die langfristige Nachhaltigkeit der öffentlichen Finanzen. Für das Update 2020 beläuft...

We present new empirical evidence on the distribution of earnings, income and wealth among entrepreneurs in Germany. We document that both earnings and income are more concentrated among entrepreneurs than among workers and describe a large-scale overlapping-generations model that can replicate...

There are a vast range of estimates for the effect of demographics on interest rates. I show that these magnitudes are not well-identified without data on capital and life-cycle consumption. However, these data are often omitted. Using nonparametric prior sensitivity analysis for an overlapping...

Concerns over the adequacy of low and middle-income earner contributions to retirement plans have led governments to introduce targeted matching schemes. In this study, we examine the effects of a simple and generous Australian scheme using administrative tax-filer data, exploiting longitudinal...

Can the aging process affect inflation? The prolonged decline of fertility and mortality rates induces a persistent downward pressure on the natural interest rate. If this development is not internalized by the monetary policy rule, inflation can be on a downward trend. Using the structure of a...

In recent years, the labour market in Romania became more and more tense, with growing labour shortages affecting the development of many important sectors. This paper is focusing on the labour market imbalances, specifying the main landmarks of labour shortages and highlighting their conditions...

In the wake of the global pandemic known as COVID-19, retirees, along with those hoping to retire someday, have been shocked into a new awareness of the need for better risk management tools to handle longevity and aging. This paper offers an assessment of the status quo prior to the spread of...