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N° 2001 - 17 |
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| December |
Macroeconomic Consequences
of Pension Reforms in Europe:
an Investigation with the INGENUE World Model |
| Equipe INGENUE |
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| This paper presents some results of the computable,
general-equilibrium, multi-regional overlapping-generations model INGENUE. The
purpose of this research is to analyse the issues relating to wealth accumulation
and alternative pension re-forms in the context of global finance. Hence it focuses
on the international capital flows that ought to be induced by differential aging
of the various regions of the world, as depicted by the UN demographic projections.
The first section exhibits the stylized facts which suggest that a world equilibrium
approach is appropriate and leads to an analysis of the convergence processes.
The second section lays out the analytical structure of the world model and detail
our choices of calibrating. The third section presents a baseline scenario of
the world economy in the XXIth century. The fourth and final section analyses
European public pension reforms scenarios. |
Abstract |
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| CGEM, Demographics, International capital
flows, OLG model. |
Keywords |
| F21, C68, D91, H55. |
JEL classification |
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