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Pension reform, employment by age, and long-run growth

Tim Buyse (UGent) , Freddy Heylen (UGent) and Renaat Van de Kerckhove (UGent)
(2013) JOURNAL OF POPULATION ECONOMICS. 26(2). p.769-809
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Abstract
We study the effects of pension reform on hours worked by three active generations, education of the young, the retirement decision of older workers, and aggregate growth in a four-period OLG model. The model explains important facts well for many OECD countries. Our simulation results prefer an intelligent pay-as-you-go system above a fully funded private system. Positive effects on employment and growth are the strongest when the pay-as-you-go system includes a tight link between individual labor income and the pension, and when it attaches a high weight to labor income earned as an older worker to compute the pension assessment base.
Keywords
ENDOGENOUS GROWTH, SOCIAL-SECURITY, Pension reform, Overlapping generations, MODEL, LABOR, Retirement, INCOME INEQUALITY, OECD COUNTRIES, FISCAL-POLICY, ECONOMIC-DEVELOPMENT, PRIVATE INVESTMENT, CAPITAL ACCUMULATION

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Citation

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MLA
Buyse, Tim, et al. “Pension Reform, Employment by Age, and Long-Run Growth.” JOURNAL OF POPULATION ECONOMICS, vol. 26, no. 2, 2013, pp. 769–809, doi:10.1007/s00148-012-0416-x.
APA
Buyse, T., Heylen, F., & Van de Kerckhove, R. (2013). Pension reform, employment by age, and long-run growth. JOURNAL OF POPULATION ECONOMICS, 26(2), 769–809. https://doi.org/10.1007/s00148-012-0416-x
Chicago author-date
Buyse, Tim, Freddy Heylen, and Renaat Van de Kerckhove. 2013. “Pension Reform, Employment by Age, and Long-Run Growth.” JOURNAL OF POPULATION ECONOMICS 26 (2): 769–809. https://doi.org/10.1007/s00148-012-0416-x.
Chicago author-date (all authors)
Buyse, Tim, Freddy Heylen, and Renaat Van de Kerckhove. 2013. “Pension Reform, Employment by Age, and Long-Run Growth.” JOURNAL OF POPULATION ECONOMICS 26 (2): 769–809. doi:10.1007/s00148-012-0416-x.
Vancouver
1.
Buyse T, Heylen F, Van de Kerckhove R. Pension reform, employment by age, and long-run growth. JOURNAL OF POPULATION ECONOMICS. 2013;26(2):769–809.
IEEE
[1]
T. Buyse, F. Heylen, and R. Van de Kerckhove, “Pension reform, employment by age, and long-run growth,” JOURNAL OF POPULATION ECONOMICS, vol. 26, no. 2, pp. 769–809, 2013.
@article{3117357,
  abstract     = {{We study the effects of pension reform on hours worked by three active generations, education of the young, the retirement decision of older workers, and aggregate growth in a four-period OLG model. The model explains important facts well for many OECD countries. Our simulation results prefer an intelligent pay-as-you-go system above a fully funded private system. Positive effects on employment and growth are the strongest when the pay-as-you-go system includes a tight link between individual labor income and the pension, and when it attaches a high weight to labor income earned as an older worker to compute the pension assessment base.}},
  author       = {{Buyse, Tim and Heylen, Freddy and Van de Kerckhove, Renaat}},
  issn         = {{0933-1433}},
  journal      = {{JOURNAL OF POPULATION ECONOMICS}},
  keywords     = {{ENDOGENOUS GROWTH,SOCIAL-SECURITY,Pension reform,Overlapping generations,MODEL,LABOR,Retirement,INCOME INEQUALITY,OECD COUNTRIES,FISCAL-POLICY,ECONOMIC-DEVELOPMENT,PRIVATE INVESTMENT,CAPITAL ACCUMULATION}},
  language     = {{eng}},
  number       = {{2}},
  pages        = {{769--809}},
  title        = {{Pension reform, employment by age, and long-run growth}},
  url          = {{http://doi.org/10.1007/s00148-012-0416-x}},
  volume       = {{26}},
  year         = {{2013}},
}
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