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The total fertility rate is below the replacement level ‐ the number of children needed to keep the total population constant ‐ in 29 out of 34 OECD countries for 2005‐10. The only exceptions are Israel and Mexico (with 2.8 and 2.2 children per woman, respectively) and Iceland, Turkey and the United States (at replacement level of 2.1). However in more than two‐thirds of OECD countries there has been a moderate increase in fertility rates over the last decade. Fertility rates have a profound implication for pension systems because they, along with life expectancy, are the drivers of population ageing.

Document Type: Review Article

Publication date: 2011-03-01

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