Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/142408
Authors: 
Cipriani, Giam Pietro
Year of Publication: 
2016
Series/Report no.: 
IZA Discussion Papers 9969
Abstract: 
In this paper we consider the effects of population aging on a pay-as-you-go financed defined contributions pension scheme. We show that when retirement decisions are endogenous, aging increases the retirement age and the steady state level of capital. The effect on pension payouts is in general ambiguous, except for the solution of full retirement, when this effect is unambiguously negative.
Subjects: 
retirement
aging
PAYG pensions
overlapping generations model
JEL: 
J13
H55
Document Type: 
Working Paper

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