Aging Anxiety : Much Ado About Nothing ?
AbstractSocial security systems in most industrialized countries face severe financial problems due to adverse demographic changes. The increase in old-age dependency, however, will be spread over a period of approximately 50 years. The degree of technological progress necessary to offset the negative effects of aging might therefore be small. Using models with endogenous labor supply and with capital accumulation, we demonstrate that under plausible assumptions, current living standards can be maintained with a moderate rate of technological progress. The necessary rate of growth increases both in the size of the program and in the fraction of agents who exclusively depend on public pensions in retirement.
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Bibliographic InfoPaper provided by Université de Lausanne, Faculté des HEC, DEEP in its series Cahiers de Recherches Economiques du Département d'Econométrie et d'Economie politique (DEEP) with number 00.11.
Length: 32 pages
Date of creation: May 2000
Date of revision:
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Web page: http://www.hec.unil.ch/deep/publications/cahiers/series
More information through EDIRC
social security; aging; technological progress;
Other versions of this item:
- H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
- J18 - Labor and Demographic Economics - - Demographic Economics - - - Public Policy
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
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