TY  - RPRT
        AU  - Cipriani, Giam Pietro
        TI  - Population Ageing and PAYG Pensions in the OLG Model
        PY  - 2013/Jan/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 7144
        UR  - https://www.iza.org/index.php/publications/dp7144
        AB  - This paper shows the effects on a pay-as-you-go pension system of the demographic change in the standard overlapping generations model. Firstly, we consider a setting with exogenous fertility and then a model with endogenous fertility. In both cases, population ageing due to increased longevity implies a reduction in pensions payouts.
        KW  - longevity
KW  - PAYG pensions
KW  - fertility
        ER  -