Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments March 27, 2002 erstellt
Beschreibung:
In the model world with overlapping generations and uncertain life expectancy individuals can live for a maximum of two periods. Only one part of each generation survives the work-ing phase and lives to enjoy retirement. The other part dies after the first half of life. Within this framework it is possible to examine the influences of an ageing population on individual saving behaviour as well as social security systems.This article analyses the determination of individual savings and per-capita consumption by presupposing constant wage and interest rates. We continue to examine the influence of dif-ferent pension schemes on individual saving behaviour. It is shown that the introduction of a pension scheme leads to drop in overall per-capita savings regardless of what type of pension scheme - pay-as-you-go or fully funded. Furthermore the influences of a demographic change in the form of increasing life expectancy on individual saving behaviour and pension schemes are examined