IDEAS home Printed from https://ideas.repec.org/a/prs/ecoprv/ecop_0249-4744_1989_num_90_4_5121.html
   My bibliography  Save this article

La gestion du système de retraite face au vieillissement de la population

Author

Listed:
  • Gilles Saint-Paul

Abstract

[eng] The Management of Retirement Systems in view of the Ageing of the Population, . by Gilles Saint-Paul.. . This paper first points out the way in which the ageing of the population alters the optimal intertemporal consumption pattern. The consequences of this alteration on the management of the retirement system are then examined and an attempt is made to determine to what extent it is advisable to replace the allocation scheme by voluntary saving. The stability of equilibriums obtained is also touched upon. The outcome of this study is that, as long as economic growth is not fast enough, the best alternative is an increase in contributions with a substantial decrease in benefits. [spa] La gestión del sistema de jubilaciones frente al envejecimiento de la población, . por Gilles Saint-Paul.. . Se observa ante todo la manera en que el envejecimiento de la población modifica el perfil intertemporal óptimo del consumo. Luego se examinan las consecuencias de esta modificación para la gestión del sistema de jubilaciones y se prétende ver en qué medida es de desear que el ahorro voluntario remplace la repartición. La estabilidad de los equilibrios obtenidos es tomada en cuenta. De este estudio se deduce que al faltar una fuerte aceleración del crecimiento, es deseable un aumento de las cotizaciones junto con una reducción sustancial de las prestaciones. [ger] Die Verwaltung der Altersvorsorge angesichts des Alterns der Bevölkerung, . von Gilles Saint-Paul.. . Es wird zunächstvon der Beobachtung ausgegangen, dass das Altern der Bevölkerung den optimalen, intertemporalen Kurvenverlauf des Verbrauchs verändert. Dann werden die sich für die Verwaltung der Altersvorsorge ergebenden Folgen dieser Veränderung untersucht, und es soll herausgefunden werden, in welchem Masse es wünschenswert ist, das Umlageverfahren durch die freiwillige Ersparnis zu ersetzen. Das Interesse gilt auch der Stabilität des erreichten Gleichgewichts. Aus dieser Untersuchung geht hervor, dass mangels einer starken Beschleunigung des Wachstums eine Erhöhung der Beiträge und eine gleichzeitige bedeutsame Reduzierung der Leistungen angebrachtsind. [fre] La gestion du système de retraites face au vieillissement de la population, . par Gilles Saint-Paul.. . On observe tout d'abord la manière dont le vieillissement de la population modifie le profil intertemporel optimal de la consommation. Puis on étudie les conséquences de cette modification pour la gestion du système de retraite et on cherche à voir dans quelle mesure il est souhaitable que l'épargne volontaire supplée à la répartition. On s'intéresse également à la stabilité des équilibres obtenus. Il résulte de cette étude qu'en l'absence d'une forte accélération de la croissance, une augmentation des cotisations accompagnée d'une réduction substantielle des prestations est souhaitable.

Suggested Citation

  • Gilles Saint-Paul, 1989. "La gestion du système de retraite face au vieillissement de la population," Économie et Prévision, Programme National Persée, vol. 90(4), pages 31-43.
    • Handle: RePEc:prs:ecoprv:ecop_0249-4744_1989_num_90_4_5121
    DOI: 10.3406/ecop.1989.5121
    Note: DOI:10.3406/ecop.1989.5121
    as

    Download full text from publisher

    File URL: https://doi.org/10.3406/ecop.1989.5121
    Download Restriction: no
    File URL: https://www.persee.fr/doc/ecop_0249-4744_1989_num_90_4_5121
    Download Restriction: no
    File URL: https://libkey.io/10.3406/ecop.1989.5121?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Barro, Robert J, 1974. "Are Government Bonds Net Wealth?," Journal of Political Economy, University of Chicago Press, vol. 82(6), pages 1095-1117, Nov.-Dec..
    2. Davies, James B, 1981. "Uncertain Lifetime, Consumption, and Dissaving in Retirement," Journal of Political Economy, University of Chicago Press, vol. 89(3), pages 561-577, June.
    3. Paul A. Samuelson, 1958. "An Exact Consumption-Loan Model of Interest with or without the Social Contrivance of Money," Journal of Political Economy, University of Chicago Press, vol. 66(6), pages 467-467.
    4. Blanchard, Olivier J, 1985. "Debt, Deficits, and Finite Horizons," Journal of Political Economy, University of Chicago Press, vol. 93(2), pages 223-247, April.
    5. David Cass & Menahem E. Yaari, 1966. "A Re-examination of the Pure Consumption Loans Model," Journal of Political Economy, University of Chicago Press, vol. 74(4), pages 353-353.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Philippe Weil, 2008. "Overlapping Generations: The First Jubilee," Journal of Economic Perspectives, American Economic Association, vol. 22(4), pages 115-134, Fall.
    2. Elmendorf, Douglas W. & Gregory Mankiw, N., 1999. "Government debt," Handbook of Macroeconomics, in: J. B. Taylor & M. Woodford (ed.), Handbook of Macroeconomics, edition 1, volume 1, chapter 25, pages 1615-1669, Elsevier.
    3. Stéphane Guibaud & Yves Nosbusch & Dimitri Vayanos, 2013. "Bond Market Clienteles, the Yield Curve, and the Optimal Maturity Structure of Government Debt," The Review of Financial Studies, Society for Financial Studies, vol. 26(8), pages 1914-1961.
    4. Dominik Grafenhofer & Christian Jaag & Christian Keuschnigg & Mirela Keuschnigg, 2005. "Probabilistic Aging," University of St. Gallen Department of Economics working paper series 2005 2005-08, Department of Economics, University of St. Gallen.
    5. Jacob A. Frenkel & Assaf Razin, 1984. "Budget Deficits and Rates of Interest in the World Economy," NBER Working Papers 1354, National Bureau of Economic Research, Inc.
    6. Robinson, James A. & Srinivasan, T.N., 1993. "Long-term consequences of population growth: Technological change, natural resources, and the environment," Handbook of Population and Family Economics, in: M. R. Rosenzweig & Stark, O. (ed.), Handbook of Population and Family Economics, edition 1, volume 1, chapter 21, pages 1175-1298, Elsevier.
    7. Roger E.A. Farmer & Pawel Zabczyk, 2019. "Monetary and Fiscal Policy When People Have Finite Lives," NBER Working Papers 25445, National Bureau of Economic Research, Inc.
    8. Willem H. Buiter, 2003. "James Tobin: An Appreciation of his Contribution to Economics," Economic Journal, Royal Economic Society, vol. 113(491), pages 585-631, November.
    9. repec:ebl:ecbull:v:5:y:2008:i:16:p:1-14 is not listed on IDEAS
    10. António Afonso, 2008. "Euler testing Ricardo and Barro in the EU," Economics Bulletin, AccessEcon, vol. 5(16), pages 1-14.
    11. McCallum, Bennett T., 1983. "The role of overlapping-generations models in monetary economics," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 18(1), pages 9-44, January.
    12. Koumparoulis, Dimitrios, 2006. "Ευρωπαϊκή Δημοσιονομική Πολιτική Και Οικονομική Μεγέθυνση: Η Νεοκλασική Οικονομική Θεωρία Για Την Περίπτωση Της Ελλάδας [European Fiscal Policy and Economic Growth: The Neoclassical Economic Theory," MPRA Paper 44310, University Library of Munich, Germany.
    13. Mr. Hamid Faruqee, 2002. "Population Aging and its Macroeconomic Implications: A Framework for Analysis," IMF Working Papers 2002/016, International Monetary Fund.
    14. Pingle, Mark & Tesfatsion, Leigh, 1998. "Active intermediation in a monetary overlapping generations economy1," Journal of Economic Dynamics and Control, Elsevier, vol. 22(10), pages 1543-1574, August.
    15. Pingle, Mark & Tesfatsion, Leigh, 1998. "Active Intermediation In Overlapping Generations Economies With Production And Unsecured Debt," Macroeconomic Dynamics, Cambridge University Press, vol. 2(2), pages 183-212, June.
    16. Erling Steigum Jr., "undated". "Fiscal Deficits, Asset Prices and Intergenerational Distribution in an Open Unionized Economy," EPRU Working Paper Series 97-19, Economic Policy Research Unit (EPRU), University of Copenhagen. Department of Economics.
    17. Miroslav Verbič & Rok Spruk, 2014. "Aging Population and Public Pensions: Theory and Macroeconometric Evidence," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 61(3), pages 289-316, June.
    18. Roger Farmer & Pawel Zabczyk, 2019. "The Fiscal Theory of the Price Level in Overlapping Generations Models," 2019 Meeting Papers 39, Society for Economic Dynamics.
    19. António Afonso, 2001. "Government indebtedness and european consumers behaviour," Working Papers Department of Economics 2001/12, ISEG - Lisbon School of Economics and Management, Department of Economics, Universidade de Lisboa.
    20. Hamid Faruqee, 2003. "Debt, Deficits, and Age-specific Mortality," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 6(2), pages 300-312, April.
    21. Augeraud-Véron, Emmanuelle & D'Albis, Hippolyte, 2009. "Continuous-Time Overlapping Generations Models," TSE Working Papers 09-047, Toulouse School of Economics (TSE).

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:prs:ecoprv:ecop_0249-4744_1989_num_90_4_5121. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Equipe PERSEE (email available below). General contact details of provider: https://www.persee.fr/collection/ecop .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.