%0 Report
        %A Cipriani, Giam Pietro
        %T Population Ageing and PAYG Pensions in the OLG Model
        %D 2013
        %8 2013 Jan
        %I Institute of Labor Economics (IZA)
        %C Bonn
        %7 IZA Discussion Paper
        %N 7144
        %U https://www.iza.org/publications/dp7144
        %X 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.
        %K longevity
%K PAYG pensions
%K fertility