This paper quantifies the fiscal cost of the demographic transition that Japan is projected to experience over the next several decades, in a life-cycle model with endogenous saving, consumption, and ...

Based on the stylized facts of the demographic transition model, one can see the dynamics ... changes also exhibit a favourable picture. While Japan sees half its population approaching 43 years ...

The speed and magnitude of the ongoing demographic aging in Japan are unprecedented ... labor market over the coming decades will affect the transition path of the economy and fiscal situation of ...