This note examines the macroeconomic impact of demographic shocks in a continuous-time overlapping-generations model à la Yaari (1965)-Blanchard (1985)-Buiter (1988), assuming a hump-shaped lifecycle profile of earnings.Compared to the case without age-dependent earnings, an additional...

Lars Weber Demographic Change and Economic Growth Simulations on Growth Models Physica-Verlag Contents 1 Introduction 1 1.1 Problem Statement 1 1.2 Connection of Systems Dynamics, Economics and...

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...