Caicai, Du; Joan, Muysken; Olaf, Sleijpen - Graduate School of Business and Economics (GSBE), … - 2011
We model a three-pillar pension system and analyse in this context the impact of the financial crisis on the aggregate economy, using an overlapping generations model where individuals live for two periods. The system consists of (1) a PAYG pension system, (2) a Defined Benefit pension fund, and...