Fertility waves, aggregate savings and the rate of interest.

"During the last fifty years there have in many countries been large movements in the growth of labor productivity, real wage rates, the rate of interest, and the household savings ratio. In this paper we use an overlapping generations model to study if demographic shocks, like the baby boom, can generate the kind of movements observed. Simulations show this is indeed the case. We also study the interactions between a pay-as-you-go pension system and demographic disturbances.... We present some stylized facts of the historical development in Sweden for the rate of interest, the aggregate household saving ratio, growth of labor productivity and the birth rate."