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Equilibrium dynamics with different types of pay-as-you-go pension schemes Author info | Abstract | Publisher info | Download info | Related research | Statistics Andreas Wagener () (University of Vienna)
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We analyse the steady-state equilibrium dynamics of an OLG economy with a pay-as-you-go (PAYG) pension scheme that relates old-age pensions to previous earnings. Contrary to an economy where PAYG pensions depend on the earnings of those currently working, such an economy may experience complex equilibrium dynamics with endogenous cycles and bifurcations.
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Article provided by Economics Bulletin in its journal Economics Bulletin .
Volume (Year): 8 (2003)
Issue (Month): 6 ()
Pages: 1-12
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Handle: RePEc:ebl:ecbull:v:8:y:2003:i:6:p:1-12Contact details of provider: Postal: Economics Bulletin, Department of Economics, 414 Calhoun Hall, Vanderbilt University, Nashville TN 37235, USA Phone: 615-322-2920 Fax: 615-343-8495 Email: Web page: http://www.economicsbulletin.com
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Keywords: bifurcations ; dynamics ; pay-as-you-go pensions ; stability ; steady state ; Find related papers by JEL classification: H5 - Public Economics - - National Government Expenditures and Related Policies
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.:
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Other versions: Erkki Koskela & Markku Ollikainen & Mikko Puhakka, 2000.
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Grandmont, Jean-Michel & Pintus, Patrick & de Vilder, Robin, 1998.
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Other versions:
Jean-Michel Grandmont ; P, A, Pintus ; R, De Vilder, .
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Koskela, E. & Ollikainen, M. & Puhakka, M., 2000.
"Saddles, Indeterminacy and Bifurcations in an Overlapping Generations Economy with a Renewable Resource ,"
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Lucas Bretschger & Karen Pittel, 2005.
"Innovative Investments, Natural Resources and Intergenerational Fairness: Are Pension Funds Good for Sustainable Development? ,"
Swiss Journal of Economics and Statistics (SJES) ,
Swiss Society of Economics and Statistics (SSES), vol. 141(III), pages 355-376, September.
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