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Vieillissement et richesse des nations

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  • Jacques Le Cacheux
  • Vincent Touzé

Abstract

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.

Suggested Citation

  • Jacques Le Cacheux & Vincent Touzé, 2003. "Vieillissement et richesse des nations," Revue de l'OFCE, Presses de Sciences-Po, vol. 86(3), pages 231-275.
    • Handle: RePEc:cai:reofsp:reof_086_0231
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    2. Jacques Le Cacheux & Vincent Touzé, 2002. "Les modèles d'équilibre général calculable à générations imbriquées. Enjeux, méthodes et résultats," Revue de l'OFCE, Presses de Sciences-Po, vol. 80(1), pages 87-113.
    3. Vincent Touzé, 2007. "Les performances économiques de la Suède," Post-Print hal-03471883, HAL.
    4. repec:hal:spmain:info:hdl:2441/5mcsclpvpm8lsadm6engnbebt7 is not listed on IDEAS
    5. Gaël Dupont & Cyrille Hagneré & Vincent Touzé, 2003. "Les modèles de microsimulation dynamique dans l'analyse des réformes des systèmes de retraites : une tentative de bilan," Economie & Prévision, La Documentation Française, vol. 0(4), pages 167-191.
    6. Vincent Touzé, 2005. "Les performances de l’économie suédoise depuis 1970 : quelques éléments d’évaluation," Documents de Travail de l'OFCE 2005-20, Observatoire Francais des Conjonctures Economiques (OFCE).
    7. repec:hal:spmain:info:hdl:2441/3881 is not listed on IDEAS
    8. Frédérique GANNON & Gilles LE GARREC & Vincent TOUZÉ, 2020. "The South’s Demographic Transtiton and International Capital Flows in a Financially Integrated World Economy," JODE - Journal of Demographic Economics, Cambridge University Press, vol. 86(1), pages 1-45, March.
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    More about this item

    JEL classification:

    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making

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