Longevity, Growth and Intergenerational Equity - The Deterministic Case
Challenges raised by ageing (increasing longevity) have prompted policy debates featuring policy proposals justified by reference to some notion of intergenerational equity. However, very different policies ranging from pre-savings to indexation of retirement ages have been justified in this way. We develop an overlapping generations model in continuous time which encompasses different generations with different mortality rates and thus longevity. Allowing for both trend increases in longevity and productivity, we address the issue of intergenerational equity under a utilitarian criterion when future generations are better off in terms of both material and non-material well being. Increases in productivity and longevity are shown to have very different implications for intergenerational distribution.
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- Sebnem Kalemli-Ozcan & David N. Weil, 2004.
"Mortality Change, the Uncertainty Effect, and Retirement,"
2004-04, Department of Economics, University of Houston.
- Sebnem Kalemli-Ozcan & David Weil, 2010. "Mortality change, the uncertainty effect, and retirement," Journal of Economic Growth, Springer, vol. 15(1), pages 65-91, March.
- Sebnem Kalemli-Ozcan & David Weil, 2006. "Mortality Change, the Uncertainty Effect, and Retirement," 2006 Meeting Papers 28, Society for Economic Dynamics.
- Sebnem Kalemli-Ozcan & David Weil, 2002. "Mortality Change, the Uncertainty Effect, and Retirement," Macroeconomics 0212006, EconWPA.
- Sebnem Kalemli-Ozcan & David N. Weil, 2002. "Mortality Change, the Uncertainty Effect, and Retirement," NBER Working Papers 8742, National Bureau of Economic Research, Inc.
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