Fertility and PAYG pensions in the overlapping generations model
AbstractThis article analyses how long-run pay-as-you-go public pensions react to a change in fertility in the basic overlapping generations model of neoclassical growth. While it would seem well established both in the academic and political debates that the decline in fertility represents a “demographic time bomb” for the sustainability of public pensions, it is shown that a falling birth rate need not necessarily cause long-run pension benefit to fall.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 25811.
Date of creation: 11 Oct 2010
Date of revision:
Fertility; PAYG pensions; OLG model;
Other versions of this item:
- Luciano Fanti & Luca Gori, 2012. "Fertility and PAYG pensions in the overlapping generations model," Journal of Population Economics, Springer, vol. 25(3), pages 955-961, July.
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
- J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
This paper has been announced in the following NEP Reports:
- NEP-AGE-2010-10-23 (Economics of Ageing)
- NEP-ALL-2010-10-23 (All new papers)
- NEP-DGE-2010-10-23 (Dynamic General Equilibrium)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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26146, University Library of Munich, Germany.
- Fanti, Luciano & Gori, Luca, 2013. "Endogenous fertility, endogenous lifetime and economic growth: the role of child policies," MPRA Paper 44898, University Library of Munich, Germany.
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- Luciano Fanti, 2012. "Fertility and money in an OLG model," Discussion Papers 2012/145, Dipartimento di Economia e Management (DEM), University of Pisa, Pisa, Italy.
- Cipriani, Giam Pietro, 2013. "Population Ageing and PAYG Pensions in the OLG Model," IZA Discussion Papers 7144, Institute for the Study of Labor (IZA).
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