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A model is presented that explains the mix between funded and unfunded pension systems. It turns out that total pension and the relative shares of the two systems may be explained and are determined by the population growth rate, technological growth, the time-preference discount rate, the...
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We set up an overlapping generations model with endogenous fertility to study pensions policies in an ageing economy … have negative effects on the fertility rate, thus exacerbating population ageing. …
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overlapping-generations model of endogenous fertility with heterogeneous agents. The model places particular emphasis on the time … having children and hence sow the seeds of its own destruction. The model is then extended to allow for fertility … number of OECD countries that have generous DBPAYG pension systems and falling fertility rates …
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