On the basis of a longitudinal administrative dataset (1991-2002) merged with the Census of 2001 and the National Register, the majority of the poor elderly in Belgium appear to be persistently poor. The question arises why this might be so. To the extent that individual characteristics such as...

Dans un modèle à générations imbriquées avec production «à la Diamond», on introduit de l’incertitude sur la durée de vie. En comparaison la dynamique d’une économie sans système de retraite avec celle d’une économie disposant d’un système de retraite par capitalisation, on...

A transition from pay-as-you-go pension systems to more private funded systems is often suggested as a solution to finance pension systems threatened by ageing. This paper analyses alternative potential remedies linked to changes in labour market characteristics, within an international...

Early retirement is often explained as resulting from a voluntary labour supply choice of a utility maximizing individual. nonetheless, a lof of individuals perceive retirement as a forced instead as a voluntary decision. This paper tries to accomodate voluntary and unvoluntary labour supply...

In order to study the macroeconomic effects of public finances, we construct a computable general equilibrium model with overlapping generations, endogenous growth and endogenous retirement age. We calibrate this model on Belgian data. We show that it is able to replicate the observed increase...

This paper re-examines the effects of population aging and pension reforms in an OLG model with labor market frictions. The most important feature brought about by labor market frictions is the connection between the interest rate and the unemployment rate. Exogenous shocks (such as aging)...

With an overlapping generations model, Williamson and Jones [1983] demonstrated that the long-run savings ratio in the U.S. was not affected by the introduction and the reform of the unfunded social security system. This paper extends their model by including a production sector, endogenous...

In several OECD countries age-targeted wage subsidies have been introduced to increase the employment of older workers, but evidence on their effectiveness is scarce. This paper examines the effects of a permanent wage cost subsidy in Belgium on the employment rate, working time and hourly wage....

Les travailleurs bénéficient de performances différentes sur le marché du travail en fonction de leur âge : le taux d'emploi exhibe une trajectoire en cloche en fonction de l'âge, tandis que le taux de chômage est continuellement décroissant. Au cours des dernières décennies, le taux...

Are employers willing to employ more older individuals, in particular older women? Higher employment among the older segments of the population will only materialise if firms are willing to employ them. Although several economists have started considering the demand side of the labour market for...