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Vieillissement et richesse des nations

  • Jacques Le Cacheux
  • Vincent Touzé

We examine the consequences of aging on wealth accumulation and growth in a simple overlapping-generations model. We show that, for some given sets of pension rules, aging is always beneficial for growth and development: lengthening the retirement period provides an incentive for saving more, which is always favorable to future generations. Only in the case of a marked increase in the weight of the pay-as-you-go pension system is wealth accumulation reduced and growth lower. We also discuss the utility gains associated to aging, its incidence on labor supply and the fairness of pension rules. JEL codes : D91, H55, D91.

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Article provided by Presses de Sciences-Po in its journal Revue de l'OFCE.

Volume (Year): 84 (2003)
Issue (Month): 1 ()
Pages: 47-91

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Handle: RePEc:cai:reofsp:reof_084_91
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