Economic ageing and demographic change

Dominik Grafenhofer, Christian Jaag, Christian Keuschnigg and Mirela Keuschnigg ()

Vienna Yearbook of Population Research, 2007, vol. 5, issue 1, 133-165

Abstract: This paper presents a generalised model of overlapping generations with economic ageing of households. Economic age is defined as a set of personal attributes such as earnings potential and tastes that are characteristic of a person’s position in the life-cycle. We separate the concepts of economic age and time since birth by assuming only a small number of different states of age. Agents sharing the same economic characteristics are aggregated analytically to a small number of age groups. The model thus allows for a very parsimonious approximation of life-cycle differences in earnings, wealth and consumption. As an illustration, we apply the model quantitatively to study the impact of demographic change.

Date: 2007
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Citations: View citations in EconPapers (7)

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Related works:
Working Paper: Economic Aging and Demographic Change (2007)
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Persistent link: https://EconPapers.repec.org/RePEc:vid:yearbk:v:5:y:2007:i:1:p:133-165

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