Aging, social security design, and capital accumulation

Antoine Dedry, Harun Onder and Pierre Pestieau

No 7418, Policy Research Working Paper Series from The World Bank

Abstract: This paper analyzes the impact of aging on capital accumulation and welfare in a country with a sizable unfunded social security system. Using a two-period overlapping generation model with endogenous retirement decisions, the paper shows that the type of aging and the type of unfunded social security system are important in understanding this impact. The analysis compares two types of demographic changes, declining fertility and increasing longevity; three types of pensions, defined contributions, defined benefits, and defined annuities; as well as mandatory and optimal retirement systems to investigate the differences in implications of aging.

Keywords: Economic Theory&Research; Population Policies; Emerging Markets; Labor Policies; Pensions&Retirement Systems (search for similar items in EconPapers)
Date: 2015-09-22
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 (1)

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Related works:
Journal Article: Aging, social security design, and capital accumulation (2017)
Working Paper: Aging, social security design and capital accumulation (2017)
Working Paper: Aging, Social Security Design, and Capital Accumulation (2016)
Working Paper: Aging, Social Security Design, and Capital Accumulation (2015)
Working Paper: Aging, social security design and capital accumulation (2014)
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