Resource title

Retirement Indexation in a Stochastic Model with Overlapping Generations and Endogenous Labour Supply

Resource image

image for OpenScout resource :: Retirement Indexation in a Stochastic Model with Overlapping Generations and Endogenous Labour Supply

Resource description

Using a stochastic overlapping generations model with endogenous labour supply, this paper studies the design and performance of a policy rule for the retirement age in response to fertility and mortality shocks. Two main results are derived: First, to oset a change in the labour force the retirement age should adjust more than proportionally to the fertility change and, second, to be socially desirable the retirement age should be indexed less than proportionally to changes in life expectancy.

Resource author

Ole Hagen Jørgensen

Resource publisher

Resource publish date

Resource language

eng

Resource content type

application/pdf

Resource resource URL

http://hdl.handle.net/10398/7688

Resource license

Check the according license before adaptation. When adapting give credits to the original author.