Advertisement

Pensionomics pp 121-169 | Cite as

Replication with PAYGO

Chapter
  • 354 Downloads
Part of the Lecture Notes in Economics and Mathematical Systems book series (LNE, volume 572)

Keywords

Human Capital Physical Capital Pension System Complete Market Real Capital 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

References

  1. 16.
    This makes it also more similar to equation (50) of Merton [1983], as he does not address the accumulation of physical capital.Google Scholar
  2. 20.
    Note that Merton [1983] has a less rigorous approach concerning the notation and does hence not use primes for the structural parameters.Google Scholar

Copyright information

© Springer-Verlag Berlin Heidelberg 2006

Personalised recommendations