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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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