Aging, Social Security Design, and Capital Accumulation

• Tác giả: Antoine Dedry
• Ngôn ngữ: eng
• Ký hiệu phân loại: 368.4 Government-sponsored insurance
• Thông tin xuất bản: World Bank, Washington, DC, 2015
• Bộ sưu tập: Tài liệu truy cập mở
• ID: 325511
• Chủ đề: 1. CAPITAL ACCUMULATION; 2. CAPITAL MARKETS; 3. DEFINED CONTRIBUTIONS; 4. ECONOMIC GROWTH; 5. PRODUCTION

Tóm tắt

 This paper analyzes the impact of aging on capital accumulation and welfare in a country with a sizable unfunded social security system. Using a two-period overlapping generation model with endogenous retirement decisions, the paper shows that the type of aging and the type of unfunded social security system are important in understanding this impact. The analysis compares two types of demographic changes, declining fertility and increasing longevity
  three types of pensions, defined contributions, defined benefits, and defined annuities
  as well as mandatory and optimal retirement systems to investigate the differences in implications of aging.