Rillaers, Alexandra; Croix, David de la; Mahieu, Geraldine - Instituto Valenciano de Investigaciones Económicas (IVIE) - 2003
optimum by means of inter-generational transfers and/or public debt. We conclude that the policy recommendations of postponing … retirement is fragile and depend on preferences and technologies. Also, even when the optimal adjustment of public debt goes into … the expected direction in the long run, -i.e. public debt should decrease,- this may not be the case during the transition. …