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Efficient subsidization of human capital accumulation with overlapping generations and endogenous growth
Richter, Wolfram F.; Braun, Christoph - 2009
This paper studies second-best policies in an OLG model in which endogenous growth results from human capital accumulation. When young, individuals decide on education, saving, and nonqualified labour. When old, individuals supply qualified labour. Growth equilibria are inefficient in...
Persistent link: https://www.econbiz.de/10003926427
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Demography and provisions for retirement : the pension composition, a behavioral approach
Praag, Bernard M. S. van; Hop, J. Peter - 2020
Pensions may be provided for in a modern society by a mix of several methods, namely by voluntary individual savings … workers decide on their own individual savings, that the fully-funded occupational system is decided upon by the age cohort of … pension savings are the only sources of capital supply. When capital supply equals demand from industry there is equilibrium …
Persistent link: https://www.econbiz.de/10012160984
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On welfare effects of increasing retirement age
Makarski, Krzysztof; Tyrowicz, Joanna - 2018
We develop an OLG model with realistic assumptions about longevity to analyze the welfare effects of raising the retirement age. We look at a scenario where an economy has a pay-as-you-go defined benefit scheme and compare it to a scenario with defined contribution schemes (funded or notional)....
Persistent link: https://www.econbiz.de/10011821425
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Pension policies in a model with endogenous fertility
Cipriani, Giam Pietro; Pascucci, Francesco - 2018
We set up an overlapping generations model with endogenous fertility to study pensions policies in an ageing economy. We show that an increasing life expectancy may not be detrimental for the economy or the pension system itself. On the other hand, conventional policy measures, such as...
Persistent link: https://www.econbiz.de/10011855784
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The political (in)stability of funded social security
Beetsma, Roel; Komada, Oliwia; Makarski, Krzysztof; … - 2021
degree of altruism. Our analysis rationalizes the experience of Central and Eastern European countries, who rolled back their …
Persistent link: https://www.econbiz.de/10012648353
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Samuelson's contributions to population theory and overlapping generations in economics
Lee, Ronald Demos - 2019
Paul Samuelson made a series of important contributions to population theory for humans and other species, evolutionary … theory, and the theory of age structured life cycles in economic equilibrium and growth. The work is highly abstract but much …
Persistent link: https://www.econbiz.de/10012027303
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Career progression and formal versus on-the-job training
Adda, Jérôme; Dustmann, Christian; Meghir, Costas; … - 2006
We develop a dynamic discrete choice model of training choice, employment and wage growth, allowing for job mobility …
Persistent link: https://www.econbiz.de/10003464503
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Population ageing and PAYG pensions in the OLG model
Cipriani, Giam Pietro - 2013
This paper shows the effects on a pay-as-you-go pension system of the demographic change in the standard overlapping generations model. Firstly, we consider a setting with exogenous fertility and then a model with endogenous fertility. In both cases, population ageing due to increased longevity...
Persistent link: https://www.econbiz.de/10009695984
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Aging, retirement and pay-as-you-go pensions
Cipriani, Giam Pietro - 2016
In this paper we consider the effects of population aging on a pay-as-you-go financed defined contributions pension scheme. We show that when retirement decisions are endogenous, aging increases the retirement age and the steady state level of capital. The effect on pension payouts is in general...
Persistent link: https://www.econbiz.de/10011480809
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Social security and endogenous demographic change: child support and retirement policies
Cipriani, Giam Pietro; Fioroni, Tamara - 2021
This paper studies retirement and child support policies in a small, open, overlapping-generations economy with PAYG social security and endogenous retirement and fertility decisions. It demonstrates that neither fertility nor retirement choices necessarily coincide with socially optimal...
Persistent link: https://www.econbiz.de/10012405524