Overlapping Generations Models with Realistic Demography: Statics and Dynamics
AbstractThe extensive literature on overlapping generation models is rich and productive, yet it suffers from its reliance on simplistic demographic assumptions which are largely unnecessary. The past literature has mainly assumed only two age groups and perfect survival until the end of the second of these. Theoretical results for two age groups sometimes do not generalize, and without mortality one cannot study the implications of its change. Such a crude model cannot even simultaneously accommodate dependent childhood, productive mid years, and retirement. Any kind of empirical implementation of these models is virtually impossible. This paper adopted a continuous age distribution with an arbitrary age schedule of mortality. The core economic model was standard. The new concept of reallocation system is sufficiently broad to include the real world variety of individual and institutional mechanisms, ranging from real capital formation through credit transactions to non-market transfers through the family or the government.
Download InfoTo our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Bibliographic InfoPaper provided by University of California at Berkeley, Demography of Aging in its series Working Papers with number _002.
Date of creation:
Date of revision:
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Thomas Krichel).
If references are entirely missing, you can add them using this form.