Grafenhofer, Dominik; Jaag, Christian; Keuschnigg, Christian - 2006
The paper develops an overlapping generations model with probabilistic aging of households. We define age as a set of …-cycle differences in earnings, wealth and consumption. Existing classes of overlapping generations models follow as special cases. … overlapping generations model with probabilistic aging of households.
We define age as a set of personal attributes such as …