Essays on Macroeconomic Implications of Demographic Change

Demographic change is becoming increasingly important to the economic wellbeing of industrialized countries. These changes bring with them a set of implications, among which are the sustainability of public finance, pension- and social security systems. These implication cause a response, the span of which can range from pension reforms and fiscal policy to the individual’s life cycle plan. Understanding the economic implication of these demographic changes is instrumental to a sound resolution of the issues they spark. This dissertation is composed of four independent chapters, all of which are concerned with the economic implications of demographic change.