A closed model of overlapping cohorts

András Simonovits
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András Simonovits: Hungarian Academy of Scientists

Chapter Chapter 13 in Modeling Pension Systems, 2003, pp 131-138 from Palgrave Macmillan

Abstract: Abstract Until now the interest rate has been taken as a constant and as exogenously given. This assumption is acceptable in a small open economy but is unacceptable in a large closed economy. We shall now study what happens if interest rates change endogenously over time.

Keywords: Interest Rate; Rational Expectation; Pension System; Small Open Economy; Naive Expectation (search for similar items in EconPapers)
Date: 2003
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-4039-3845-9_14

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DOI: 10.1057/9781403938459_14

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