Heijdra, Ben J.; Mierau, Jochen O. - In: Journal of Economic Dynamics and Control 36 (2012) 6, pp. 876-890
We study the effects of an annuity market imperfection on individual agents' life-cycle decisions and on the macroeconomic growth rate in an overlapping generations model with single-sector endogenous growth. Our model features both age-dependent mortality and labour productivity. We model...