Pension system in a two-classes overlapping generations model
AbstractWe introduce a two-classes one-good overlapping generations model of economic growth with bequests. The difference between capitalists and workers is that the firsts have larger discount coefficient and/or higher return to savings. For the model proposed, we define a balanced growth equilibrium and prove its existence. Using the model, we analyze effects of pay-as-you-go and fully funded pension systems. (in Russian)
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Bibliographic InfoPaper provided by European University at St. Petersburg, Department of Economics in its series EUSP Deparment of Economics Working Paper Series with number Ec-02/08.
Length: 24 pages
Date of creation: 04 Dec 2008
Date of revision: 10 Dec 2008
economic growth; overlapping generations; pension; social security;
Find related papers by JEL classification:
- E24 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution
- H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
- D91 - Microeconomics - - Intertemporal Choice and Growth - - - Intertemporal Consumer Choice; Life Cycle Models and Saving
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
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