In this paper I use a multi-period OLG model to study how a demographic shock is distributed among different generations. In particular, I investigate whether a funded pension system allows for a smoother adjustment than an unfunded system. The results suggest that the answer to this question...

Pension reform is one of the most pressing issues on the current and future agenda of policy and economic research. Georg Hirte develops and uses a uniform framework for analyzing the effects of pension reforms on redistribution and efficiency among the different generations and the political...

This book presents a new computational approach to solving large-scale Auerbach-Kotlikoff Overlapping Generations (OLG) models in a complementarity format. Unlike with integrated solution methods, the proposed decomposition algorithm allows for the solution of multi-regional and multi-sectoral...

The aim of this paper is to quantify the welfare effects of some currently discussed pension reform proposals in Germany. The analysis is based on an extended overlapping-generations model which accounts for intra-generational heterogeneity, rising life expectancy and declining fertility. Given...