DP44 | Economic Implications of Demographic Change


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This paper shows how previous fluctuations in births affect the educational system, relative earnings and unemployment rates in the labour market, the number and composition of households, patterns of housing consumption, pressures in health services and personal social services, and finally contribution rates in the state retirement pension system. It also shows how members of large generations may suffer in educational opportunities, in their lifetime earnings prospects and possibly in the pensions that they receive.