Vieillissement et richesse des nations

Jacques Le Cacheux and Vincent Touzé

Revue de l'OFCE, 2003, vol. 86, issue 3, 231-275

Abstract: We examine the consequences of aging on wealth accumulation and growth in a simple overlapping-generations model. We show that, for some given sets of pension rules, aging is always beneficial for growth and development : lengthening the retirement period provides an incentive for saving more, which is always favorable to future generations. Only in the case of a marked increase in the weight of the pay-as-you-go pension system is wealth accumulation reduced and growth lower. We also discuss the utility gains associated to aging, its incidence on labor supply and the fairness of pension rules.

Date: 2003
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Journal Article: Vieillissement et richesse des nations (2003)
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Working Paper: Vieillissement et richesse des nations (2003)
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