• 1 Introduction
  • 2 The model
  • 2.1 Households
  • 2.2 Demography
  • 2.3 Firms
  • 3 Retirement and Ageing in the Absence of Pensions
  • 3.1 The retirement decision
  • 3.2 Ageing effects
  • 4 Realistic Pension System
  • 5 Tax and Pension Shocks
  • 6 Demographic Change and Policy Reform
  • 6.1 Tax reform
  • 6.2 Pension reform
  • 6.3 Discussion
  • 7 Conclusions