Longevity, Growth and Intergenerational Equity - The Deterministic Case
AbstractChallenges raised by ageing (increasing longevity) have prompted policy debates featuring policy proposals justified by reference to some notion of intergenerational equity. However, very different policies ranging from pre-savings to indexation of retirement ages have been justified in this way. We develop an overlapping generations model in continuous time which encompasses different generations with different mortality rates and thus longevity. Allowing for both trend increases in longevity and productivity, we address the issue of intergenerational equity under a utilitarian criterion when future generations are better off in terms of both material and non-material well being. Increases in productivity and longevity are shown to have very different implications for intergenerational distribution.
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Bibliographic InfoPaper provided by School of Economics and Management, University of Aarhus in its series Economics Working Papers with number 2010-19.
Date of creation: 29 Nov 2010
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Web page: http://www.econ.au.dk/afn/
OLG models; demographics; longevity; taxes; transfers; retirement age; dependency ratio; healthy ageing; decentralization;
Find related papers by JEL classification:
- J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts
This paper has been announced in the following NEP Reports:
- NEP-AGE-2010-12-04 (Economics of Ageing)
- NEP-ALL-2010-12-04 (All new papers)
- NEP-DGE-2010-12-04 (Dynamic General Equilibrium)
- NEP-HEA-2010-12-04 (Health Economics)
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.:
- Sebnem Kalemli-Ozcan & David Weil, 2006.
"Mortality Change, the Uncertainty Effect, and Retirement,"
2006 Meeting Papers
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- Sebnem Kalemli-Ozcan & David Weil, 2002. "Mortality Change, the Uncertainty Effect, and Retirement," Macroeconomics 0212006, EconWPA.
- Sebnem Kalemli-Ozcan & David N. Weil, 2004. "Mortality Change, the Uncertainty Effect, and Retirement," Working Papers 2004-04, Department of Economics, University of Houston.
- Torben Andersen & Mikkel Hermansen, 2014. "Durable consumption, saving and retirement," Journal of Population Economics, Springer, vol. 27(3), pages 825-840, July.
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