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Aging, Informality and Public Policies in a Small Open Economy

Daniel Baksa (), Mihnea Constantinescu and Zsuzsa Munkacsi ()
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Daniel Baksa: Department of Economics, Central European University; Institute of Economics, Hungarian Academy of Sciences

No 2, Bank of Lithuania Discussion Paper Series from Bank of Lithuania

Abstract: We extend OGRE, the overlapping generation model developed by Baksa and Munkacsi (2016) by adding openness. We then employ the model to explore how the macroeconomic effects of aging, assumed to manifest itself as a decrease in the mortality rate, can be counteracted through public policies. The extended version inherits the previous modelling features of OGRE allowing us to also account for the impact openness has on the effectiveness of the considered policies.

Keywords: population aging; public pension reforms; pay-as-you-go; fully funded; shadow economy; informal employment; small open-economy; overlapping generations (search for similar items in EconPapers)
JEL-codes: E24 E26 F41 H55 J11 J46 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-age, nep-dge, nep-iue and nep-mac
Date: 2016-09-23
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