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Ageing and retirement age. What can we learn from the Overlapping Generations Model ?

  • Antoine D'Autume


    (EUREQUA - Equipe Universitaire de Recherche en Economie Quantitative - UP1 - Université Panthéon-Sorbonne - CNRS)

In this paper, the two-period OLG model has been modified to distinguish the effects of individual ageing from changes in the birth rate. Optimal pension and retirement age policies have been characterized in a dynamic framework. We have considered a mixed pension scheme that is fully funded, but offers agents an actuarially fair choice on their retirement age. We show that this mixed pension scheme makes it possible to implement the optimal solution. The numerical simulations describe the dilemmas France currently faces.

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Paper provided by HAL in its series Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) with number halshs-00452561.

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Date of creation: 2003
Date of revision:
Publication status: Published in Cahiers de la MSE 2003-08. 2003
Handle: RePEc:hal:cesptp:halshs-00452561
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  1. BELAN, Pascal & PESTIEAU, Pierre, 1997. "Privatizing social security: a critical assessment," CORE Discussion Papers 1997084, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  2. Olivier J. Blanchard, 1984. "Debt, Deficits and Finite Horizons," NBER Working Papers 1389, National Bureau of Economic Research, Inc.
  3. Long, John B, Jr & Plosser, Charles I, 1983. "Real Business Cycles," Journal of Political Economy, University of Chicago Press, vol. 91(1), pages 39-69, February.
  4. Helmuth Cremer & Jean-Marie Lozachmeur & Pierre Pestieau, 2002. "Social Security, Retirement Age and Optimal Income Taxation," CESifo Working Paper Series 693, CESifo Group Munich.
  5. Mark Gertler, 1997. "Government Debt and Social Security in a Life-Cycle Economy," NBER Working Papers 6000, National Bureau of Economic Research, Inc.
  6. Philippe Michel & Pierre Pestieau, 2000. "Retraite par répartition et âge de la retraite," Revue Économique, Programme National Persée, vol. 51(1), pages 15-30.
  7. Didier Blanchet & Louis-Paul Pele, 1997. "Social Security and Retirement in France," NBER Working Papers 6214, National Bureau of Economic Research, Inc.
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