for consumption and the hours of time supplied to the labour market, they also choose their schooling level and retirement …

We study the effects of an annuity market imperfection on individual agents’ labour supply and retirement decisions and … on the macroeconomic growth rate in an overlapping generations model with endogenous growth. We model imperfect annuities … repercussion is that economic growth is lower under imperfect annuities than with perfect annuities. …

mortality process. Individual agents choose their optimal retirement age, taking into account the time- and age profiles of … wages, taxes, and the public pension system. The early retirement provision in most pension systems acts as a trap, inducing … most workers to retire well before the normal retirement age. Simulations show that pension reform must be drastic for it …

to demographic ageing and per-capita growth to accelerate. If the retirement age were held constant, the growth rate in …-capita growth. The OLG model captures direct effects, working through adjustments in the savings rate, labor supply, and capital … deepening, and indirect effects, working through changes of taxes, government spending components and the retirement age in …

This paper uses an endogenous-growth model with overlapping generations to explore the connection between fiscal … federalism and economic growth. The analysis shows that federalism, which allows public-good levels to be tailored to suit the … faster economic growth. …

capital production function, the model gives rise to exogenous or endogenous growth. The effects of demographic shocks and … fiscal stimuli on the growth path are derived, both atimpact, during transition, and in the long run. …

While the effect of social security systems on retirement decisions has received much attention, the impact of these … investment and retirement decisions in a simple analytical life-cycle model with full certainty and investigate how different … contributions and benefits increase human capital investment and postpone retirement. …

endogenous retirement. Labor taxation distorts not only labor supply, but also education and retirement decisions. Actuarially … unfair pensions further exacerbate labor tax distortions on retirement. Education subsidies can nevertheless cushion the … adverse impact of taxation on skill formation. Feedbacks between education, labor supply, and retirement are important. The …