PL EN


2009 | 56 | 4 | 297-321
Article title

POPULATION AGING, THE PUBLIC PENSION SYSTEM, AND SAVINGS: PARAMETRIC PENSION REFORMS (Nepessegoregedes, tb-nyugdij es megtakaritas - parametrikus nyugdijreformok)

Title variants
Languages of publication
HU
Abstracts
EN
The paper considers a quite realistic overlapping-generations model of an economy, where the population is aging due to a falling number of births and a rising life expectancy. One form of old-age income is the unfunded pension system, while private savings and bequests are another. Members of subsequent cohorts determine their consumption paths by maximizing their lifetime utility functions. Filling the model with numbers makes it possible to compare different pension policies: 1. the basic run, 2. reduced accrual rates, 3. replacement of wage indexation with price indexation, and 4. a raised retirement age. Whether the policy changes are anticipated or not, the private reactions differ widely.
Year
Volume
56
Issue
4
Pages
297-321
Physical description
Document type
ARTICLE
Contributors
  • Andras Simonovits, no address given, contact the journal editor
References
Document Type
Publication order reference
Identifiers
CEJSH db identifier
10HUAAAA078731
YADDA identifier
bwmeta1.element.82414645-6dd4-32ee-8f99-491b9472c90d
JavaScript is turned off in your web browser. Turn it on to take full advantage of this site, then refresh the page.