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Population Aging, Intergenerational Transfers and the Macroeconomy
Edited by Robert L. Clark, Naohiro Ogawa and Andrew Mason
Population aging is a global phenomenon that influences not only the industrialized countries of Asia and the West, but also many middle- and low- income countries that have experienced rapid fertility decline and achieved long life expectancies. This book explores how workers and consumers are responding to population aging and examines how economic growth, generational equity, trade and international capital flows are influenced by population aging.
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Chapter 5: Modeling the Effects of Population Aging on Consumption in the Presence of Intergenerational Transfers
Heinrich Hock and David N. Weil
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