Generations Model and the Pension System

This is a review of the theoretical conditions for The Overlapping Generations Model and the Pension System.

1. Introduction

2. The overlapping generations model

3. The steady state

4. Is the steady state Pareto-optimal?

5. Fully funded versus pay-as-you-go pension systems

6. Shifting from a pay as-you-go to a fully funded system

7. Conclusion

References