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In the forthcoming decades the industrialized countries as well as, to a lesser extent, developing countries will experience a demographic transition which is unprecedented in history. Within the next 40 years the German population being 65 years and older will increase from 15 to 27 percent, the median age will raise by 10 years, and the dependency ratio — the ratio of pensioners to workers — will almost double.
KeywordsDemographic Transition General Equilibrium Model Dependency Ratio Computable General Equilibrium Model Intergenerational Transfer
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