Aging and Public Pensions in an Overlapping-Generations Model

A.C. Meijdam, H.A.A. Verbon

Research output: Working paperDiscussion paperOther research output

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Abstract

In this paper decision making on public pensions 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.
Original languageEnglish
PublisherUnknown Publisher
Number of pages12
Volume1995-38
Publication statusPublished - 1995

Publication series

NameCentER Discussion Paper
Volume1995-38

Fingerprint

Overlapping generations model
Short-run
Public pensions
Pay-as-you-go tax
General equilibrium model
Pension scheme
Comparative statics
Comparative dynamics
Decision making
Rational expectations
Overlapping generations

Keywords

  • Pensions
  • Ageing
  • social security

Cite this

Meijdam, A. C., & Verbon, H. A. A. (1995). Aging and Public Pensions in an Overlapping-Generations Model. (CentER Discussion Paper; Vol. 1995-38). Unknown Publisher.
Meijdam, A.C. ; Verbon, H.A.A. / Aging and Public Pensions in an Overlapping-Generations Model. Unknown Publisher, 1995. (CentER Discussion Paper).
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Meijdam, AC & Verbon, HAA 1995 'Aging and Public Pensions in an Overlapping-Generations Model' CentER Discussion Paper, vol. 1995-38, Unknown Publisher.

Aging and Public Pensions in an Overlapping-Generations Model. / Meijdam, A.C.; Verbon, H.A.A.

Unknown Publisher, 1995. (CentER Discussion Paper; Vol. 1995-38).

Research output: Working paperDiscussion paperOther research output

TY - UNPB

T1 - Aging and Public Pensions in an Overlapping-Generations Model

AU - Meijdam, A.C.

AU - Verbon, H.A.A.

N1 - Pagination: 12

PY - 1995

Y1 - 1995

N2 - In this paper decision making on public pensions 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.

AB - In this paper decision making on public pensions 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.

KW - Pensions

KW - Ageing

KW - social security

M3 - Discussion paper

VL - 1995-38

T3 - CentER Discussion Paper

BT - Aging and Public Pensions in an Overlapping-Generations Model

PB - Unknown Publisher

ER -

Meijdam AC, Verbon HAA. Aging and Public Pensions in an Overlapping-Generations Model. Unknown Publisher. 1995. (CentER Discussion Paper).