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)
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