Yasuoka, Masaya - In: Economies : open access journal 6 (2018) 2, pp. 1-15
This paper presents examination of how a pension policy affects income growth and the inflation rate in a utility model …. Even if the contribution rate of pension increases because of an aging society, an aging society increases income growth …-as-you-go pension changes capital accumulation. Therefore, the income growth rate should be changed to raise the welfare of all …
