Tyrowicz, Joanna; Makarski, Krzysztof; Bielecki, Marcin - 2018
We analyze the consumption and wealth inequality in an OLG model with mandatory pension systems. Our framework features … within cohort heterogeneity of endowments and heterogeneity of preferences. We allow for population aging and gradual decline … in TFP growth. We show four main results. First, increasing longevity translates to substantial increases in aggregate …