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Pension System in a Two-Classes Overlapping Generations Model

Kirill Borissov () and Alexander Surkov ()

No 2008/02, EUSP Department of Economics Working Paper Series from European University at St. Petersburg, Department of Economics

Abstract: We introduce a two-classes one-good overlapping generations model of economic growth with bequests. The difference between capitalists and workers is that the firsts have larger discount coefficient and/or higher return to savings. For the model proposed, we define a balanced growth equilibrium and prove its existence. Using the model, we analyze effects of pay-as-you-go and fully funded pension systems. (In Russian).

Keywords: economic growth; overlapping generations; pension; social security (search for similar items in EconPapers)
JEL-codes: D91 E24 H55 O40 (search for similar items in EconPapers)
Pages: 24 pages
Date: 2008-12-04, Revised 2008-12-10
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