Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/86582
Authors: 
Bettendorf, Leon
Heijdra, Ben
Year of Publication: 
2005
Series/Report no.: 
Tinbergen Institute Discussion Paper 05-021/2
Abstract: 
In this paper we study the implications of population ageing in an economy with a sizeable non-traded goods sector. To this effect a highly stylized micro-founded macro model is constructed in which the age structure of the population plays a non-trivial role. The model distinguishes separate birth and death probabilities (thus allowing for net population change), allows for age-dependent labour productivity (thus mimicing life-cycle saving), and includes a rudimentary pension system (thus allowing for intergenerational redistribution). The model is used to analytically study demographic and pension shocks.
Subjects: 
fertility rate
overlapping generations
pension reform
demographic shocks
non-traded goods
JEL: 
D91
E13
F41
H55
Document Type: 
Working Paper

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