Chen, Damiaan H.J.; Beetsma, Roel; Ponds, Eduard; Romp, … - CESifo - 2014
. We use a multi-period overlapping generations model with a PAYG pension pillar, a funded pension pillar and a government …. Shocks are smoothed via the public debt and variations in the indexation of pension entitlements and the pension contribution … rate, which both respond to funding ratio of the pension fund. The intensity of these adjustments increases when the …