增长和老龄化的琼斯

W. H. Fisher, B. Heijdra
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引用次数: 62

摘要

摘要:本文将赶超偏好(keep -up- the- jones, KUJ)纳入到Blanchard-Yaari (BY)框架中,并利用AK技术建立了平衡增长模型。在此背景下,我们调查了身份偏好、人口统计和养老金政策冲击。我们发现,较高的KUJ程度会降低经济增长,而相反,生育率和死亡率的下降会提高经济增长。在本文的第二部分,我们通过纳入一个具有法定退休日期的现收现付(PAYG)养老金制度来扩展该模型。这引入了人类财富收入的生命周期,并意味着现收现付制下的增长率更高。我们亦会考虑在设定受益及设定供款计划下,延长退休日期的影响。
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Growth and the Ageing Joneses
Abstract: We incorporate Keeping-up-with-the-Joneses (KUJ) preferences into the Blanchard-Yaari (BY) framework and develop, using an AK technology, a model of balanced growth. In this context we investigate status preference, demographic, and pension policy shocks. We find that a higher degree of KUJ lowers economic growth, while, in contrast, a decrease in the fertility and mortality rates increase it. In the second part of the paper we extend the model by incorporating a Pay-as-you-go (PAYG) pension system with a statutory retirement date. This introduces a life-cycle in human wealth earnings and implies that the growth rate is higher under PAYG. We also consider the implications of an increase in the retirement date under both defined benefit and defined contribution schemes.;
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