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Les modèles d'équilibre général calculable à générations imbriquées. Enjeux, méthodes et résultats

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  • Jacques Le Cacheux
  • Vincent Touzé

Abstract

The computable approach to general-equilibrium analysis has greatly benefited from explicitly accounting for the time and generational dimensions. This paper offers a critical survey of one particular branch of applied modeling, namely the computable, overlapping-generations, general-equilibrium models. We first review the issues that can meaningfully be raised within this framework, given currently foreseen demographic trends and current legislation. The following section presents the theoretical kernel of these models, and briefly surveys the major contributions to this literature since the early eighties, reviewing their calibration techniques and the simulation methods used. We then stress some important conclusions of these analysis with regard to public policies in such fields as retirement, taxation, public debt, as well as some implications of plausible future demographic evolutions.

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Bibliographic Info

Article provided by Presses de Sciences-Po in its journal Revue de l'OFCE.

Volume (Year): 80 (2002)
Issue (Month): 1 ()
Pages: 87-113

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Handle: RePEc:cai:reofsp:reof_080_0087

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Web page: http://www.cairn.info/revue-de-l-ofce.htm

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References

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  1. David Altig & Alan J. Auerbach & Laurence J. Kotlikoff & Kent A. Smetters & Jan Walliser, 1997. "Simulating U.S. tax reform," Working Paper 9712, Federal Reserve Bank of Cleveland.
  2. Alan B. Krueger & Jorn-Steffen Pischke, 1991. "The Effect of Social Security on Labor Supply: A Cohort Analysis of the Notch Generation," NBER Working Papers 3699, National Bureau of Economic Research, Inc.
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  8. Kenneth L. Judd, 1998. "Numerical Methods in Economics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262100711, January.
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  11. Maurice Obstfeld & Kenneth S. Rogoff, 1996. "Foundations of International Macroeconomics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262150476, January.
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  14. Feldstein, Martin S, 1974. "Social Security, Induced Retirement, and Aggregate Capital Accumulation," Journal of Political Economy, University of Chicago Press, vol. 82(5), pages 905-26, Sept./Oct.
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  17. Paul A. Samuelson, 1958. "An Exact Consumption-Loan Model of Interest with or without the Social Contrivance of Money," Journal of Political Economy, University of Chicago Press, vol. 66, pages 467.
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  19. Laurence J. Kotlikoff, 1996. "Privatization of Social Security: How It Works and Why It Matters," NBER Chapters, in: Tax Policy and the Economy, Volume 10, pages 1-32 National Bureau of Economic Research, Inc.
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  23. repec:fth:harver:1490 is not listed on IDEAS
  24. Imrohoroglu, Ayse & Imrohoroglu, Selahattin & Joines, Douglas H, 1995. "A Life Cycle Analysis of Social Security," Economic Theory, Springer, vol. 6(1), pages 83-114, June.
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Citations

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Cited by:
  1. Mouez Fodha & Patricia Le Maitre, 2007. "Transition démographique, chômage involontaire et redistribution intergénérationnelle : simulations dans un cadre d'équilibre général à générations imbriquées," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00144652, HAL.
  2. Vincent Touzé, 2005. "Fiscal incidence of unfunded pension system: an analytical investigation," Documents de Travail de l'OFCE 2005-03, Observatoire Francais des Conjonctures Economiques (OFCE).

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