AGING AND PUBLIC PENSIONS IN AN OVERLAPPING GENERATIONS MODEL

AGING AND PUBLIC PENSIONS IN AN OVERLAPPING GENERATIONS MODEL

In this paper a social-welfare maximizing public-pension policy is modeled within the framework of the well-known two-overlapping-generations general-equilibrium model with rational expectations. The model is used to analyze the effects of aging on the evolution of public pension schemes. Analytical...

Ausführliche Beschreibung

Gespeichert in:
Bibliographische Detailangaben
Veröffentlicht in:Oxford economic papers 1997-01, Vol.49 (1), p.29-42
Hauptverfasser: MEIJDAM, LEX, VERBON, HARRIE A. A.
Format: Artikel
Sprache:eng
Schlagworte:
Ageing
Aging
Consumer economics
Consumption
Consumption possibilities
Demographic aspects
Demographic economics
Economic aspects
Economic models
Economic theory
Economics
Equilibrium (Economics)
Pensions
Population aging
Population growth
Public pensions
Rational expectations (Economics)
Social policy
Steady state economies
Studies
Tax rates
Online-Zugang:Volltext
Tags: Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
Beschreibung
Zusammenfassung:In this paper a social-welfare maximizing public-pension policy is modeled within the framework of the well-known two-overlapping-generations general-equilibrium model with rational expectations. The model is used to analyze the effects of aging on the evolution of public pension schemes. Analytical results are derived for the long run as well as for the short run by the method of comparative statics and comparative dynamics respectively. This shows that the short-run consequences of aging depend crucially on the existing size of the PAYG-scheme.
ISSN:0030-7653
1464-3812
DOI:10.1093/oxfordjournals.oep.a028595