Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/180529 
Year of Publication: 
2018
Series/Report no.: 
IZA Discussion Papers No. 11511
Publisher: 
Institute of Labor Economics (IZA), Bonn
Abstract: 
We set up an overlapping generations model with endogenous fertility to study pensions policies in an ageing economy. We show that an increasing life expectancy may not be detrimental for the economy or the pension system itself. On the other hand, conventional policy measures, such as increasing the retirement age or changing the social security contribution rate could have undesired general equilibrium effects. In particular, both policies decrease capital per worker and might have negative effects on the fertility rate, thus exacerbating population ageing.
Subjects: 
overlapping generations
pension policies
endogenous fertility
ageing
JEL: 
D15
H55
J13
J18
J26
Document Type: 
Working Paper

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