The share of the population aged 60 and over is projected to increase in nearly every country in the world during the period 2005–50. Population ageing will tend to lower both labour-force participation and savings rates, thereby raising concerns about a future slowing of economic growth. Our calculations suggest that OECD countries are likely to see modest—but not catastrophic—declines in the ...

Today’s cost-conscious political environment subjects the economic implications of proposed health care expenditures to careful scrutiny. This paper examines both the logic of and the evidence on preventive health care activities’ ability to serve the objective of health cost containment. Following a brief introduction to benefit-cost analysis. the paper presents a prevention activity classific...

OBJECTIVE In 1993, a replication of a 1983 survey of occupational therapists who used group treatment in practice was administered in order to determine whether economic and demographic changes during the 10-year period altered the use of group treatment in the delivery of occupational therapy services. METHOD The survey used in 1983 was updated with new questions regarding reimbursement and ...

We derive new bounds and distance measures for stochastic discount factors (SDFs) that generalize the original variance bounds and distance of Hansen and Jagannathan (1991, 1997) and higher moment bounds of Snow (1991). These generalized measures are suitable to analyze nonlinearities in asset pricing models and trading strategies. They imply nonlinear admissible SDFs that provide a more robust...

W hether the United Kingdom (UK) should remain in the European Union (EU) or not has been a fiercely debated issue both before and after the referendum in the UK on June 23, 2016. The main purpose of this paper is to evaluate the pros and cons of the UK leaving the EU. It is concluded that if the UK leaves the EU, the resulting economic shock would risk adverse effects on macroecono...

CHIEMI HAYASHI, World Economic Forum The World Economic Forum has developed three scenarios for the future of the Gulf Cooperation Council (GCC) countries to 2025.1 From the underlying models of economic, social, and political development used to create the scenarios, it is possible to derive forces that will shape the economic environment of the GCC and assess their implications for the compet...