This paper addresses the issue of optimal population with two concerns: avoiding both the absolute repugnant solution that amounts to giving to an infinite number an infinitesimal amount and the marginal repugnant solution in which equilibrium consumption decreases with income. To avoid these...

It is generally accepted that moving from an unfunded to a funded social security sys- tem implies a welfare loss for the transition generation, that is the generation that has to pay twice: first, saving for its own retirement and second, contributing to the pensions of the then retired...

Although intergenerational transfers of time in the form of grandparenting are substantial, little is known about their role and importance. In this paper, we calibrate an overlapping generations model extended to allow for both time and monetary transfers to the US economy. We use simulations...

This paper examines the implications of intergenerational transfers of time and money for labor supply and capital accumulation. Although intergenerational transfers of time in the form of grandparenting are as substantial as monetary transfers in the data, little is known about the role and...

A comprehensive study of the linkages between demographic and economic variables should not only account for vintage specificity but also incorporate the relevant economic and demographic decisions in a complete optimal control set-up. In this paper, a methodological set-up allowing to reach...

The purpose of this paper is to provide a critical evaluation of theoretical models showing that shifting from pay-as-you-go to funded social security schemes can be made Pareto-improving. Further, it argues that what often makes a reform toward funded schemes attractive is a number of...

We study the transition from an unfunded to a funded pension system in an endogenous growth overlapping generations model (with positive externality of aggregate capital stock on individual producers). We suppose that workers have different skill levels. We distinguish cases where the initial...

We modify the two period OLG model in order to distinguish the effects of individual ageing from changes in birth rate. We characterize optimal pension and retirement age policies in a dynamic framework. We consider a mixed pension scheme, fully funded but offering agents an actuarially fair...

The purpose of this paper is to provide a critical evaluation of theoretical modelshowing that shifting from pay-as-you-go to funded social security schemes can be made Pareto-improving. Further, it argues that what often makes a reform toward funded schemes attractive is a number of additional...

It is generally accepted that moving from an unfunded to a funded social security system implies a welfare loss for the trasition generation, that is the generation that has to pay twice: first, saving for this own retirement and second, contributing to the pensions of the then retired...