Equilibrium dynamics with different types of pay-as-you-go pension schemes
Economics Bulletin, 2003, vol. 8, issue 6, 1-12
We analyse the steady-state equilibrium dynamics of an OLG economy with a pay-as-you-go (PAYG) pension scheme that relates old-age pensions to previous earnings. Contrary to an economy where PAYG pensions depend on the earnings of those currently working, such an economy may experience complex equilibrium dynamics with endogenous cycles and bifurcations.
Keywords: bifurcations (search for similar items in EconPapers)
JEL-codes: H5 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7) Track citations by RSS feed
Downloads: (external link)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:ebl:ecbull:eb-03h50001
Access Statistics for this article
More articles in Economics Bulletin from AccessEcon
Bibliographic data for series maintained by John P. Conley ().