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Labor Supply and Retirement Policy in an Overlapping Generations Model with Stochastic Fertility

Using a stochastic general equilibrium model with overlapping generations, this paper studies a policy rule for the retirement age aiming at offsetting the effects on the supply of labor following fertility changes. The authors find that the retire...

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Bibliographic Details
Main Authors: Jorgensen, Ole Hagen, Jensen, Svend E. Hougaard
Language:English
Published: 2012
Subjects:
AGGREGATE INCOME
ALLOCATION OF RESOURCES
BABIES
BABY
BABY BOOM
BUSINESS CYCLE
CAPITAL INVESTMENT
CHANGES IN FERTILITY
CONSUMPTION INCREASES
CONTRIBUTION RATE
DEBT
DECLINE IN FERTILITY
DECLINES IN FERTILITY
DEMOGRAPHIC TRENDS
DEPENDENCY RATIO
DEPENDENCY RATIOS
DISCOUNT RATE
DOWNWARD PRESSURE
EARLY RETIREMENT
ECONOMIC DECISIONS
ECONOMIC GROWTH
ECONOMIC IMPLICATIONS
ECONOMIC THEORY
ELASTICITY
ELASTICITY OF SUBSTITUTION
ELDERLY
ENDOGENOUS VARIABLES
EXOGENOUS SHOCK
EXOGENOUS VARIABLE
FERTILITY
FERTILITY DECLINE
FERTILITY RATE
FERTILITY RATES
FUTURE RESEARCH
GENERAL EQUILIBRIUM
GROSS RETURN
GROWTH RATE
HUMAN CAPITAL
IMPERFECT COMPETITION
INDEXATION
INNOVATIONS
LABOR ECONOMICS
LABOR FORCE
LABOR FORCES
LABOR SUPPLY
LABOUR
LONGEVITY ADJUSTMENT
LOW FERTILITY
LOWER FERTILITY
MARKET EQUILIBRIUM
NUMBER OF CHILDREN
NUMBER OF WORKERS
OPPORTUNITY COST
OPTIMIZATION
OVERLAPPING GENERATIONS MODEL
PAYROLL TAX
PENSION
PENSION CONTRIBUTION
PENSION CONTRIBUTIONS
PENSION SYSTEM
PENSION SYSTEMS
POLICY FRAMEWORK
POLICY MAKERS
POLICY RESEARCH
POLICY RESEARCH WORKING PAPER
POLICY RESPONSE
POLITICAL ECONOMY
POPULATION DYNAMICS
POPULATION GROWTH
POPULATION GROWTH RATE
PRODUCTIVITY
PROGRESS
RATE OF GROWTH
REAL WAGES
REPLACEMENT RATE
RESPECT
RETIREES
RETIREMENT
RETIREMENT AGE
RETIREMENT PERIOD
RETIREMENT PERIODS
RETIREMENT POLICY
SOCIAL SECURITY
SOCIAL SECURITY REFORM
TAX RATE
TAXATION
UTILITY FUNCTION
WAGE RATE
WEALTH
WORKER
WORKERS
WORKING HOURS
Online Access:http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20100727134920
http://hdl.handle.net/10986/3867

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