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Endogenous Retirement and Monetary Cycles

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  • Hippolyte D'Albis

    ()
    (LERNA - Economie des Ressources Naturelles - INRA : UR1081 - CEA : DPG - Université des Sciences Sociales - Toulouse I)

  • Emmanuelle Augeraud-Véron

    ()
    (MIA - Mathématiques, Image et Applications - Université de La Rochelle : EA3165)

Abstract

In a model of overlapping generations with a continuum of finitely-lived individuals, the aggregate price dynamics is characterized by a functional differential equation of mixed type. Delays and advances are exogenous when age at retirement is mandatory; they become state-dependent when individuals are allowed to choose their age at retirement. Using the Hopf bifurcation theorem, periodic solutions in the neighborhood of the monetary steady state appearing with a mandatory retirement age vanish with a chosen age.

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Bibliographic Info

Paper provided by HAL in its series Post-Print with number hal-00424801.

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Date of creation: 2008
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Publication status: Published, Mathematical Population Studies, 2008, 15, 4, 214–229
Handle: RePEc:hal:journl:hal-00424801

Note: View the original document on HAL open archive server: http://hal.archives-ouvertes.fr/hal-00424801/en/
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As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Visite guidée au coeur des travaux du Meilleur jeune économiste 2012 (1/2)
    by Matthieu Solignac in Regards croisés sur l'économie on 2012-05-28 19:26:09
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Cited by:
  1. Sánchez-Romero, Miguel & Sambt, Jože & Prskawetz, Alexia, 2013. "Quantifying the role of alternative pension reforms on the Austrian economy," Labour Economics, Elsevier, Elsevier, vol. 22(C), pages 94-114.
  2. Hippolyte D'Albis & Emmanuelle Augeraud-Véron, 2009. "Competitive Growth in a Life-cycle Model: Existence and Dynamics," Post-Print, HAL hal-00630459, HAL.
  3. D'Albis, Hippolyte & Lau, Paul S. & Sanchez-Romero, Miguel, 2012. "Mortality transition and differential incentives for early retirement," Economics Papers from University Paris Dauphine 123456789/6825, Paris Dauphine University.
  4. Ben J. Heijdra & Ward E. Romp, 2007. "Retirement, Pensions, and Ageing," CESifo Working Paper Series 1974, CESifo Group Munich.
  5. Hippolyte D'Albis & Emmanuelle Augeraud-Véron & Katheline Schubert, 2010. "Demographic-economic equilibria when the age at motherhood is endogenous," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00547274, HAL.
  6. Hippolyte D'albis & Emmanuelle Augeraud-Véron, 2011. "Continuous-Time Overlapping Generations Models," Working Papers 246051, Institut National de la Recherche Agronomique, France.
  7. repec:hal:cesptp:hal-00659868 is not listed on IDEAS
  8. Klaus Prettner & David Canning, 2014. "Increasing life expectancy and optimal retirement in general equilibrium," Economic Theory, Springer, Springer, vol. 56(1), pages 191-217, May.

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