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Allongement de l'espérance de vie et choix du système de retraite

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  • Patrick Artus

Abstract

The effects of aging are usually modelised by introducing a demographic cycle in the overlapping generations model. It is in that case shown that the existence of funded pension funds increases the welfare inequalities between the generations, the large generation being more penalised than with a PAYG system. We show that a different result is obtained, in the long run but not for the first generation experiencing an increase in life expectancy, if aging is modelized as resulting from the increase in the probability of survival at all ages. We distinguish between the cases of pension funds paying a regular pension and of pension funds paying a capital at retirement. In the second case, the analysis is made more complicated by the presence of the risk of spending prematurely the entire capital and of involuntary bequests. Classification JEL : H 55, J 26

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  • Patrick Artus, 2002. "Allongement de l'espérance de vie et choix du système de retraite," Revue économique, Presses de Sciences-Po, vol. 53(4), pages 809-823.
    • Handle: RePEc:cai:recosp:reco_534_0809
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    Cited by:

    1. Ileana NICULESCU-ARON & Ozge CAGCAG, 2012. "Household Saving In Western European Countries. A General Overview," Journal of Social and Economic Statistics, Bucharest University of Economic Studies, vol. 1(2), pages 48-58, DECEMBER.

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