Labour supply and retirement policy in an overlapping generations model with stochastic fertility

Using a stochastic general equilibrium model with overlapping generations, this paper studies a policy rule for the retirement age aiming at offsetting the effects on the supply of labour following fertility changes. We find that the retirement age should increase more than proportionally to the direct fall in the labour supply caused by a fall in fertility. The robustness of this result is checked against alternative model specifications and parameter values. The efficacy of the policy rule depends crucially on the link between the preference for leisure and the response of the intensive margin of labour supply to changes in the statutory retirement age.Labour supply; fertility; retirement age; overlapping generations; method of undetermined coefficients

Uncertain demographics, longevity adjustment of the retirement age, and intergenerational risk sharing

Under existing welfare arrangements, an increase in life expectancy may pose a serious threat to fiscal sustainability, and it may have dramatic effects on the intergenerational distribution of welfare. This paper finds that such effects may be countered through a policy which links the retirement age to changes in life expectancy. Fiscal Policy, Longevity Adjustment, Ageing, Pensions,Welfare Reform

Health, endogenous fertility and economic growth

This paper shows how improved health conditions aect fertility decisions and economic growth. Survival rates for children and adults are incorporated into an overlapping generations model featuring endogenous fertility and altruism from workers towards their retired parents. The main nding is that a simultaneous increase in child and adult survival decreases fertility and increases savings and productivity growth. The analysis illustrates the key role of health in the demographic transition

Hypersecretion of the α-subunit in clinically non-functioning pituitary adenomas: Diagnostic accuracy is improved by adding α-subunit/gonadotropin ratio to levels of α-subunit

Background: In vitro, the majority of clinically non-functioning pituitary adenomas (NFPAs) produce gonadotropins or their α-subunit; however, in vivo, measurements of α-subunit levels may not accurately detect the hypersecretion of the α-subunit. Aim: We wanted to estimate the reference intervals and decision limits for gonadotropin α-subunit, LH and FSH levels, and aratio (α-subunit/LH+FSH), especially taking into consideration patient gender and menstrual status. Furthermore, we wanted to examine if the diagnostic utility of α-subunit hypersecretion was improved when the α-ratios, rather than simply the α-subunit levels, were measured in patients with NFPAs. Material and Methods: Reference intervals for gonadotropin α-subunit serum levels and α-ratios were established in 231 healthy adults. The estimated cut-off limits were applied to 37 patients with NFPAs. Gonadotropin α-subunit, LH and FSH levels were measured and α-ratios were calculated. Results: In healthy adults, the cut-offs for α-subunit levels were significantly different between men and pre- and postmenopausal women: the cut-offs were 1.10, 0.48 and 3.76 IU/l, respectively. Using these estimated cut-offs, increased α-subunit levels were identified in 10 out of 37 (27%) patients with NFPAs. By adding α-ratio, in combination with α-subunit levels, 23 patients out of 37 (62%) were identified as having elevated α-subunit hypersecretion, and 22 out of these 23 patients (96%) had increased α-ratios. One premenopausal patient out of 23 had elevated α-subunit level but a normal α-ratio. Conclusion: Our data suggest that adding the simple calculation of α-ratio improves the ability of detecting gonadotropin α-subunit hypersecretion and thereby indentifying patients with NFPAs