Aging Anxiety: Much Ado About Nothing ?

Monika Bütler () and Georg Kirchsteiger

Cahiers de Recherches Economiques du Département d'économie from Université de Lausanne, Faculté des HEC, Département d’économie

Abstract: Social security systems in most industrialized countries face severe financial problems due to adverse demographic changes. The increase in old-age dependency, however, will be spread over a period of approximately 50 years. The degree of technological progress necessary to offset the negative effects of aging might therefore be small. Using models with endogenous labor supply and with capital accumulation, we demonstrate that under plausible assumptions, current living standards can be maintained with a moderate rate of technological progress. The necessary rate of growth increases both in the size of the program and in the fraction of agents who exclusively depend on public pensions in retirement.

Keywords: social security; aging; technological progress (search for similar items in EconPapers)
JEL-codes: H55 J18 O40 (search for similar items in EconPapers)
Pages: 32 pages
Date: 2000-05
New Economics Papers: this item is included in nep-dge
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http://www.hec.unil.ch/deep/textes/00.11.pdf (application/pdf)

Related works:
Working Paper: Aging Anxiety: Much Ado about Nothing? (1999)
Working Paper: Aging Anxiety: Much Ado about Nothing? (1999)
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Persistent link: https://EconPapers.repec.org/RePEc:lau:crdeep:00.11

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