Due to the accelerating demographic change of the population the reform of the existing pension systems constitutes one of the greatest political challenges in most European countries. A theoretical discussion of different pension reforms must incorporate not only the demographic aspect but also...

This book presents a new computational approach to solving large-scale Auerbach-Kotlikoff Overlapping Generations (OLG) models in a complementarity format. Unlike with integrated solution methods, the proposed decomposition algorithm allows for the solution of multi-regional and multi-sectoral...