CREMER, Helmuth; GAHVARI, Firouz; PESTIEAU, Pierre - Center for Operations Research and Econometrics (CORE), … - 2010
This paper provides a unified treatment of externalities associated with fertility and human capital accumulation within pas-as-you-go pension systems. It considers an overlapping generations model in which every generation consists of high earners and low earners with the proportion of types...