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Overlapping generations models with realistic demography

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  • Antoine Bommier
  • Ronald D. Lee

Abstract

This paper revisits the literature on overlapping generations models in the demographic context of a continuous age distribution and a general age schedule of mortality. We show that most of the static results known for the 3 or N age-group models can be extended to the continuous model. Some results, previously established for economies without capital, are extended to productive economies. We also make some progress on the existence of some steady states as well as on the dynamic properties. Copyright Springer-Verlag Berlin Heidelberg 2003

Suggested Citation

  • Antoine Bommier & Ronald D. Lee, 2003. "Overlapping generations models with realistic demography," Journal of Population Economics, Springer;European Society for Population Economics, vol. 16(1), pages 135-160, February.
  • Handle: RePEc:spr:jopoec:v:16:y:2003:i:1:p:135-160
    DOI: 10.1007/s001480100102
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    More about this item

    Keywords

    JEL classification: D9; E13; H55; H62; 010; 016; Key words: Overlapping generations; Pay-As-You-Go systems; demography;
    All these keywords.

    JEL classification:

    • D9 - Microeconomics - - Micro-Based Behavioral Economics
    • E13 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Neoclassical
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus

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