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Population aging and PAYG pensions in the OLG model

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  • Giam Cipriani

Abstract

This paper shows the effects on a pay-as-you-go pension system of the demographic change in the standard overlapping generations model. Firstly, we consider a setting with exogenous fertility and then a model with endogenous fertility. In both cases, population aging due to increased longevity implies a reduction in pensions payouts. Copyright Springer-Verlag Berlin Heidelberg 2014

Suggested Citation

  • Giam Cipriani, 2014. "Population aging and PAYG pensions in the OLG model," Journal of Population Economics, Springer;European Society for Population Economics, vol. 27(1), pages 251-256, January.
    • Handle: RePEc:spr:jopoec:v:27:y:2014:i:1:p:251-256
    DOI: 10.1007/s00148-013-0465-9
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    1. Alessandro Cigno, 2010. "How to Avoid a Pension Crisis: A Question of Intelligent System Design ," CESifo Economic Studies, CESifo Group, vol. 56(1), pages 21-37, March.
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    More about this item

    Keywords

    PAYG pensions; Fertility; Longevity; J13; H55;
    All these keywords.

    JEL classification:

    • J13 - Labor and Demographic Economics - - Demographic Economics - - - Fertility; Family Planning; Child Care; Children; Youth
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions

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