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Optimal beliefs in the long run: An overlapping generations perspective

Yuan, Yue - In: Economics Letters 117 (2012) 2, pp. 525-527

People have the natural tendency to be optimistic and believe that good outcomes in the future are more likely, but also want to avoid overestimation that could result in bad decision-making. Brunnermeier, Brunnermeier and Parker (2005) and Brunnermeier et al. (2007) established an optimal...

Persistent link: https://www.econbiz.de/10011041582

Learning the optimal buffer-stock consumption rule of Carroll

YILDIZOGLU, Murat; SENEGAS, Marc-Alexandre; SALLE, Isabelle - Groupe de Recherche en Économie Théorique et … - 2011

learning schemes can be compared in terms of the consumption behaviour that they yield. We show that neither purely adaptive … learning, nor social learning based on imitation can ensure satisfactory consumption behaviours. By contrast, if the agents can … terms of its regularity, and its ability to improve performance (which is as a clear manifestation of learning). Our results …

Persistent link: https://www.econbiz.de/10008871252

Population Ageing and Pension Reform in a Small Open Economy with Non-Traded Goods

Bettendorf, Leon; Heijdra, Ben - Tinbergen Instituut - 2005

In this paper we study the implications of population ageing in an economy with a sizeable non-traded goods sector. To this effect a highly stylized micro-founded macro model is constructed in which the age structure of the population plays a non-trivial role. The model distinguishes separate...

Persistent link: https://www.econbiz.de/10011257545

Social Security Policy with Public Debt in an Aging Economy

Ono, Tetsuo - Center for Intergenerational Studies, Institute of … - 2002

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/10005018473

Social security policy with public debt in an aging economy

Ono, Tetsuo - In: Journal of Population Economics 16 (2003) 2, pp. 363-387

Persistent link: https://www.econbiz.de/10005622318

Population Ageing and Pension Reform in a Small Open Economy with Non-Traded Goods

Bettendorf, Leon; Heijdra, Ben - Tinbergen Institute - 2005

Persistent link: https://www.econbiz.de/10005144537

Пенсионная реформа и межпоколенческий альтруизм в моделях экономической динамики

Surkov, Alexander - Volkswirtschaftliche Fakultät, … - 2009

A complexity of a pension reform realization in a country with high level of intergenerational altruism is considered as a reason of a failure of the pension reform in Russia. Differences between intergenerational altruism levels in Russia and more modernized western countries are discussed....

Persistent link: https://www.econbiz.de/10008765902

Overlapping generations models with realistic demography

Bommier, Antoine; Lee, Ronald D. - In: Journal of Population Economics 16 (2003) 1, pp. 135-160

This paper revisits the literature on overlapping generations models in the demographic context of a continuous age distribution and a general age schedule of mortality. We show that most of the static results known for the 3 or N age-group models can be extended to the continuous model. Some...

Persistent link: https://www.econbiz.de/10005760471

Family Size, Looming Demographic Changes and the Efficiency of Social Security Reform

van Groezen, Bas; Meijdam, Lex; Leers, T. - Tilburg University, Center for Economic Research - 2000

This paper analyses the eeffects of ageing and child support in a model with endogenous fertility and Pay-As-You-Go (PAYG) pensions. First, we show that the endogeneity of fertility makes society vulnerable to both pessimistic beliefs and changes in life expectancy. In particular, we show that...

Persistent link: https://www.econbiz.de/10011091071

A family production overlapping generations economy

Cellarier, Laurent L. - In: Journal of Economic Dynamics and Control 37 (2013) 11, pp. 2168-2179

This paper provides a theoretical analysis of an overlapping generations economy in which production decisions and input–output allocations are all carried out at the family level. I consider a single class of output allocation schemes and various degrees of knowledge about the production...

Persistent link: https://www.econbiz.de/10010703125