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Aging, Social Security Design, and Capital Accumulation

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...

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Bibliographic Details
Main Authors: Dedry, Antoine, Onder, Harun, Pestieau, Pierre
Language:English
en_US
Published: World Bank, Washington, DC 2015
Subjects:
DEFINED CONTRIBUTIONS
CAPITAL MARKETS
ECONOMIC GROWTH
PRODUCTION
CAPITAL ACCUMULATION
UNFUNDED PENSIONS
OLD AGE
RETIREMENT
MORTALITY DECLINE
INCOME
INTEREST
CAPITAL ACCUMULATIONS
MANDATORY RETIREMENT
PENSION SYSTEMS
EXCHANGE
EQUILIBRIUM VALUE
UTILITY MAXIMIZATION
INCOME GROUP
LABOR FORCE
PENSION CONTRIBUTION
DEVELOPING COUNTRIES
DEMOGRAPHIC FACTORS
WELFARE
ECONOMIC IMPLICATIONS
EFFECTS
INCENTIVES
EQUILIBRIUM
POLICY DISCUSSIONS
RETIREMENT SYSTEM
FACTORS OF PRODUCTION
MARGINAL PRODUCTIVITY
CAPITAL STOCK
TAX
LABOR FORCE PARTICIPATION
PENSION SYSTEM
REAL WAGES
WEALTH
SAVING
EARLY RETIREMENT
OLD-AGE
PENSION
RETIREMENT AGES
LIFE EXPECTANCY
LABOR MARKET
SAVINGS
RATE OF POPULATION GROWTH
DEVELOPMENT ECONOMICS
POPULATION GROWTH
FERTILITY RATES
INCOME INEQUALITY
BABY
RETIREMENT AGE
PRODUCTIVITY
MIGRATION
CRITERIA
MARKETS
OVERLAPPING GENERATIONS MODEL
ORGANIZATIONS
SOCIAL SECURITY
ECONOMICS LITERATURE
DEPENDENCY RATIO
LABOR
UTILITY
MORTALITY
STATIC EQUILIBRIUM
ELDERLY
TAXES
RESPECT
PROGRESS
DEFINED BENEFIT
DEMOGRAPHIC TRANSITION
CONSUMPTION
HUMAN CAPITAL
YOUNG AGE
SOCIAL SECURITY SYSTEMS
CAPITAL
WAGES
POLICIES
ANNUITIES
FUTURE
POLICY RESEARCH WORKING PAPER
VALUE
PENSIONS
CONTRIBUTION RATE
MACROECONOMICS
DEMOGRAPHIC CHANGE
ENVIRONMENTAL CONCERNS
UTILITY FUNCTION
SHARE OF CAPITAL
SHARES
EQUILIBRIUM VALUES
ELDERLY PEOPLE
ECONOMICS
POLICY
PRODUCTION FUNCTION
OUTPUT
MANAGEMENT
FUNCTIONAL FORMS
DEMOGRAPHIC CHANGES
THEORY
CONTRIBUTION SYSTEM
SECURITY
WARS
ANNUITY
INVESTMENT
WORLD POPULATION
SHARE
NUMBER OF CHILDREN
LOWER FERTILITY
FUNDED PENSIONS
POPULATION
SOCIAL SECURITY SYSTEM
RETIREMENT DECISIONS
PENSION COVERAGE
POLICY RESEARCH
FERTILITY
DEMOGRAPHIC
HEALTHY LIFE
CAPITAL INVESTMENT
RETIREMENT INCENTIVES
OUTCOMES
DECLINE IN FERTILITY
RETIREMENT SYSTEMS
DEFINED BENEFITS
LEVEL OF FERTILITY
DEVELOPMENT POLICY
BOOM GENERATIONS
FUTURE RESEARCH
Online Access:http://documents.worldbank.org/curated/en/2015/09/25076835/aging-social-security-design-capital-accumulation
http://hdl.handle.net/10986/22840

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