Economic Aging and Demographic Change

Dominik Grafenhofer, Christian Jaag, Christian Keuschnigg and Mirela Keuschnigg (mirela.keuschnigg@unisg.ch)

University of St. Gallen Department of Economics working paper series 2007 from Department of Economics, University of St. Gallen

Abstract: This paper presents a generalized model of overlapping generations with economic aging of households. Economic age is defined as a set of personal attributes such as earnings potential and tastes that are characteristic of a person's position in the life-cycle. We separate the concepts of economic age and time since birth in assuming only a small number of different states of age. Agents sharing the same economic characteristics are aggregated analytically to a low number of age groups. The model thus allows for a very parsimonious approximation of life-cycle differences in earnings, wealth and consumption. As an illustration, we quantitatively apply the model to study the impact of demographic change.

Keywords: Overlapping Generations; Aging; Demographic Change; Life-cycle (search for similar items in EconPapers)
JEL-codes: D58 D91 H55 J21 (search for similar items in EconPapers)
Pages: 40 pages
Date: 2007-09
New Economics Papers: this item is included in nep-age and nep-dge
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

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Related works:
Journal Article: Economic ageing and demographic change (2007)
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Persistent link: https://EconPapers.repec.org/RePEc:usg:dp2007:2007-35

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