Meijdam, Lex; Verbon, Harrie A A - In: Oxford Economic Papers 49 (1997) 1, pp. 29-42
In this paper, a social-welfare maximizing public-pension policy is modeled within the framework of the well-known two-overlapping-generations, general-equilibrium model with rational expectations. The model is used to analyze the effects of aging on the evolution of public-pension schemes....