The Impact of the Demographic Transition on Capital Formation
回顾了美国人口老龄化对国民储蓄率的影响，分析了家庭储蓄、政府行为及财政政策变化如何通过人口结构转变影响资本形成。
"The population of the United States is aging. We review a variety of the implications this has for U.S. national saving rates, and discuss the policy issues that they raise. After reviewing what different models would predict for household saving over the next several decades, we consider how the demographic transition may also affect national saving through changes in government behavior. Ways in which the composition of household saving might change as individuals age are also analyzed along with the implications of changes in government fiscal policy for asset composition."