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Overlapping generations models with realistic demography


This paper revisits the literature on overlapping generations models in the demographic context of a continuous age distribution and a general age schedule of mortality. We show that most of the static results known for the 3 or N age-group models can be extended to the continuous model. Some results, previously established for economies without capital, are extended to productive economies. We also make some progress on the existence of some steady states as well as on the dynamic properties.

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Received: 27 March 2000/Accepted: 25 April 2001

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Bommier, A., Lee, R. Overlapping generations models with realistic demography. J Popul Econ 16, 135–160 (2003).

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  • JEL classification: D9
  • E13
  • H55
  • H62
  • 010
  • 016
  • Key words: Overlapping generations
  • Pay-As-You-Go systems
  • demography