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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
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Handle: RePEc:hal:cesptp:halshs-00452561
Note: View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-00452561
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  1. de la Croix,David & Michel,Philippe, 2002. "A Theory of Economic Growth," Cambridge Books, Cambridge University Press, number 9780521806428.
  2. Philippe Michel & Pierre Pestieau, 2000. "Retraite par répartition et âge de la retraite," Revue Économique, Programme National Persée, vol. 51(1), pages 15-30.
  3. Mark Gertler, 1997. "Government Debt and Social Security in a Life-Cycle Economy," NBER Working Papers 6000, National Bureau of Economic Research, Inc.
  4. CREMER, Helmuth & LOZACHMEUR, Jean-Marie & PESTIEAU, Pierre, . "Social security, retirement age and optimal income taxation," CORE Discussion Papers RP 1722, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  5. 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.
  6. Blanchard, Olivier J, 1985. "Debt, Deficits, and Finite Horizons," Journal of Political Economy, University of Chicago Press, vol. 93(2), pages 223-47, April.
  7. Pascal Belan & Pierre Pestieau, 1999. "Privatizing Social Security: A Critical Assessment," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan, vol. 24(1), pages 114-130, January.
  8. 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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