The dynamics of age structured populations in the framework of the bit
-string model developed by T.J.P. Penna and collaborators is analysed
in terms of the spectral properties of a time-evolution generator. Thi
s is a functional of inclusive properties of the current state of the
population which is closely related to the well-known Leslie operators
. The analysis of the generator allows for the identification of propa
gation modes associated with invariant subspaces of the propagator mat
rix, to which in general different gain factors are associated. Restri
ctions on the reproductive age span translate into the number, structu
re and relative dominance of the propagation modes. The time evolution
of semelparous populations is found to be associated in general with
oscillatory steady regimes through the appearance of a dominant family
of propagation modes with identical gain factors, in complete analogy
with the semelparous regime of the Leslie model. Explicit results are
given and discussed for the case in which one deleterious trait is le
thal.