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Bien-être, croissance et systéme de retraite

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  • Patrick Artus

Abstract

We first briefly survey the literature adressing the issues of savings in the life-cycle, the links between the pension system, the savings rate and labor supply, and more generally the nature and causes of transfers between generations. The choice of the pension system has an influence on savings and consumption, hence on capital accumulation and welfare. Starting from the existing research on the choice of the optimal system and level of pensions, we illustrate the different points (choice between a capitalized or a pay-as-you-go system, optimal level of pensions, effects of demographic changes) using an endogenous growth model with overlapping generations. In our model, changes in income induce changes in the investment in human capital of wage earners, hence changes in the long-run growth rate.

Suggested Citation

  • Patrick Artus, 1993. "Bien-être, croissance et systéme de retraite," Annals of Economics and Statistics, GENES, issue 31, pages 101-127.
    • Handle: RePEc:adr:anecst:y:1993:i:31:p:101-127
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