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Population Ageing and PAYG Pensions in the OLG Model

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  • Cipriani, Giam Pietro

    (University of Verona)

Abstract

This paper shows the effects on a pay-as-you-go pension system of the demographic change in the standard overlapping generations model. Firstly, we consider a setting with exogenous fertility and then a model with endogenous fertility. In both cases, population ageing due to increased longevity implies a reduction in pensions payouts.

Suggested Citation

  • Cipriani, Giam Pietro, 2013. "Population Ageing and PAYG Pensions in the OLG Model," IZA Discussion Papers 7144, Institute of Labor Economics (IZA).
    • Handle: RePEc:iza:izadps:dp7144
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    1. repec:ebl:ecbull:v:10:y:2008:i:2:p:1-8 is not listed on IDEAS
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    More about this item

    Keywords

    longevity; PAYG pensions; fertility;
    All these keywords.

    JEL classification:

    • J13 - Labor and Demographic Economics - - Demographic Economics - - - Fertility; Family Planning; Child Care; Children; Youth
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions

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