Creedy, John; Gemmell, Norman; Scobie, Grant - Victoria Business School, Victoria University of Wellington - 2015
pay-as-you-go universal pension. In addition, the model allows for a compulsory private retirement savings scheme …-cycle model. The representative household maximises lifetime utility through its choice of optimal levels of consumption, housing … and saving. A key feature of the approach is modelling the consumption of housing services as a separate good in …