Japan is a fairly well-studied case. First hit on Google is: http://www.japanesestudies.org.uk/discussionpapers/Chapple.html http://www.japanesestudies.org.uk/d

Japan is a fairly well-studied case. First hit on Google is: http://www.japanesestudies.org.uk/discussionpapers/Chapple.html http://www.japanesestudies.org.uk/discussionpapers/Chapple.h... For Europe, it's less clear, as there's a lot of variation. But, data is here: http://en.wikipedia.org/wiki/List_of_countries_and_territories_by_fertility_rate http://en.wikipedia.org/wiki/List_of_countries_and_territori... For example, Italy is in a bad spot. Debt is greater than GDP, and birth rate is lower than replacement rate: http://en.wikipedia.org/wiki/Economy_of_Italy http://en.wikipedia.org/wiki/Economy_of_Italy