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Can Technological Change Sustain Retirement in an Aging Population?

Author

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  • NATALI HRITONENKO
  • YURI YATSENKO

Abstract

A model of the governmental control of age at retirement uses population age structures, productivity, employment, and money income. The sustainability criterion is a sufficient level of individual money income for all ages. The decision variables are the variable age at retirement and the intensity of technological change. The model is calibrated on real data from the U.S. Census Bureau and Bureau of Labor Statistics between 1950 and 2005 and uses official U.S. population projections for 2006-2050. The main result is that the extrapolation of current U.S. technological trends can compensate negative demographic trends in the United States without increasing the age at retirement.

Suggested Citation

  • Natali Hritonenko & Yuri Yatsenko, 2008. "Can Technological Change Sustain Retirement in an Aging Population?," Mathematical Population Studies, Taylor & Francis Journals, vol. 15(2), pages 96-113.
    • Handle: RePEc:taf:mpopst:v:15:y:2008:i:2:p:96-113
    DOI: 10.1080/08898480802010167
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    Cited by:

    1. Augeraud-Véron, Emmanuelle & D'Albis, Hippolyte, 2009. "Continuous-Time Overlapping Generations Models," TSE Working Papers 09-047, Toulouse School of Economics (TSE).
    2. Amélie Lecocq & Marcelin Joanis, 2013. "Au-delà des certitudes : Pouvoir gris, obésité et autres dimensions incertaines de l’impact budgétaire du vieillissement," Cahiers de recherche 13-08, Departement d'économique de l'École de gestion à l'Université de Sherbrooke.
    3. Natali Hritonenko & Yuri Yatsenko, 2010. "Age-Structured PDEs in Economics, Ecology, and Demography: Optimal Control and Sustainability," Mathematical Population Studies, Taylor & Francis Journals, vol. 17(4), pages 191-214.

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