Croix, David de la; Pierrard, Olivier; Sneessens, Henri R. - Centre de Recherche en Économie Appliquée (CREA), … - 2010
This paper re-examines the effects of population aging and pension reforms in an OLG model with labor market frictions. The most important feature brought about by labor market frictions is the connection between the interest rate and the unemployment rate. Exogenous shocks (such as aging)...