A Funded Pension System with Endogenous Retirement
نویسندگان
چکیده
This study employs an overlapping generations model to analyze the effect of public pension levels on economic variables when labor supply elderly is determined endogenously. paper focuses effects a funded scheme economy as well pay-as-you-go (PAYG) scheme. First, impact expansion pensions capital–labor ratio analyzed. It shown that increases ratio, which contrasted with fact PAYG neutral ratio. Next, pensions’ introduction steady-state welfare evaluated. The will improve population growth rate higher than interest rate, while lower rate.
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ژورنال
عنوان ژورنال: Asian journal of economic modelling
سال: 2022
ISSN: ['2312-3656', '2313-2884']
DOI: https://doi.org/10.55493/5009.v10i3.4569