Beggar thy thrifty neighbour |
| |
Authors: | Yvonne Adema Lex Meijdam Harrie A A Verbon |
| |
Institution: | (1) Department of Economics, CentER, and Netspar, Tilburg University, P.O. Box 90153, 5000 LE Tilburg, The Netherlands;(2) Department of Economics, CentER, Netspar, and CESifo, Tilburg University, P.O. Box 90153, 5000 LE Tilburg, The Netherlands |
| |
Abstract: | This paper explores the international spillover effects of ageing through capital markets when countries have different pension
systems. We use a two-country two-period overlapping-generations model, where the two countries only differ in their pension
schemes. Two forms of population ageing are considered, namely, an increase in longevity and a fall in fertility. It is shown
that, in the long run, a country using a funded pension system experiences negative spillovers from the fact that the other
country uses a pay-as-you-go system. The short-run spillovers, however, are opposite to the spillovers in the long run.
|
| |
Keywords: | Ageing Pensions Spillovers |
本文献已被 SpringerLink 等数据库收录! |
|