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This paper analyses the effects of reducing unfunded social security and population ageing on economic growth and welfare, both for a small open economy and for a closed economy.The economy consists of a service sector and a commodity sector.Productivity growth only occurs in the latter sector...
Persistent link: https://www.econbiz.de/10011090756
This paper analyzes a social security policy with public debt in an overlapping generations growth model. In particular, the paper considers a situation in which population aging causes a heavy burden of social security payments where public debt is issued by the government to finance the...
Persistent link: https://www.econbiz.de/10005622318
between capitalists and workers is that the firsts have larger discount coefficient and/or higher return to savings. For the …
Persistent link: https://www.econbiz.de/10008794568
We analyze equilibrium paths in two models of overlapping generations with reciprocal altruism. The first one allows us to consider a case of different propensity to of consumer to support her children and parents (non-symmetrical altruism). In this model, an equilibrium is a Nash equilibrium....
Persistent link: https://www.econbiz.de/10008794571
Intergenerational inequality and old-age poverty are salient isuues in contemporary China. China's aging population threatens the fiscal sustainability of its pension system, a key vehicle for intergenerational redistribution. We analyze the positive and normative effects of alternative pension...
Persistent link: https://www.econbiz.de/10010570550
Persistent link: https://www.econbiz.de/10004998701
Persistent link: https://www.econbiz.de/10005010163
Persistent link: https://www.econbiz.de/10004964367
Persistent link: https://www.econbiz.de/10004964368
The aim of this paper is to analyze the cause and effect relationship between economic growth and savings in advanced … the existence of one-way casual relationship between gross domestic savings and gross domestic product in the case of … relationship between gross domestic product and gross domestic savings both in developed economies and developing and transition …
Persistent link: https://www.econbiz.de/10010578222