Pension Reforms in an Aging Society: A Fully Displayed Cohort Model

Andras Simonovits ()
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Andras Simonovits: Institute of Economics - Hungarian Academy of Sciences, Department of Economics - CEU, Mathematical Institute - Budapest University of Technology

No 917, CERS-IE WORKING PAPERS from Institute of Economics, Centre for Economic and Regional Studies

Abstract: We fully display a cohort model of an economy with an aging population, taking into account varying family size, habit formation, inheritance and credit constraints. Filling the model with numbers, we are able to compare different pension reforms: 1. the base run, 2. the reduced accrual rates, 3. replacing wage indexation with price indexation and 4. raised retirement age. Whether the policy changes are anticipated or not, the private reactions widely differ.

Keywords: population aging; pension models; pension reforms (search for similar items in EconPapers)
JEL-codes: H1 H5 H6 (search for similar items in EconPapers)
Pages: 33 pages
Date: 2009-10
New Economics Papers: this item is included in nep-age and nep-pub
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Citations: View citations in EconPapers (4)

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