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Pension System in a Two-Classes Overlapping Generations Model

Author

Listed:
  • Kirill Borissov
  • Alexander Surkov

Abstract

We 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).

Suggested Citation

  • Kirill Borissov & Alexander Surkov, 2008. "Pension System in a Two-Classes Overlapping Generations Model," EUSP Department of Economics Working Paper Series 2008/02, European University at St. Petersburg, Department of Economics, revised 10 Dec 2008.
    • Handle: RePEc:eus:wpaper:ec2008_02
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    File URL: https://eusp.org/sites/default/files/archive/ec_dep/wp/ec-02_08.pdf
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    Citations

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    Cited by:

    1. Oglikh Valentina V. & Golovko Anna V., 2013. "Demographic Aspect of Modelling a Transition Stage of the Pension System," Business Inform, RESEARCH CENTRE FOR INDUSTRIAL DEVELOPMENT PROBLEMS of NAS (KHARKIV, UKRAINE), Kharkiv National University of Economics, issue 7, pages 114-118.

    More about this item

    Keywords

    economic growth; overlapping generations; pension; social security;
    All these keywords.

    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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