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A Neoclassical Growth Model with Endogenous Retirement
http://hdl.handle.net/2261/2450
http://hdl.handle.net/2261/24505365dfd3-0b44-4584-bb8c-5391598f6c98
Item type | テクニカルレポート / Technical Report(1) | |||||
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公開日 | 2013-06-03 | |||||
タイトル | ||||||
タイトル | A Neoclassical Growth Model with Endogenous Retirement | |||||
言語 | ||||||
言語 | eng | |||||
キーワード | ||||||
主題 | The Overlapping Generation Model | |||||
主題Scheme | Other | |||||
キーワード | ||||||
主題 | Persistence | |||||
主題Scheme | Other | |||||
キーワード | ||||||
主題 | Magnification Effects | |||||
主題Scheme | Other | |||||
キーワード | ||||||
主題 | Multiple Steady States | |||||
主題Scheme | Other | |||||
キーワード | ||||||
主題 | JEL: Classification Number: D91, O11 | |||||
主題Scheme | Other | |||||
資源タイプ | ||||||
資源 | http://purl.org/coar/resource_type/c_18gh | |||||
タイプ | technical report | |||||
アクセス権 | ||||||
アクセス権 | metadata only access | |||||
アクセス権URI | http://purl.org/coar/access_right/c_14cb | |||||
著者 |
Matsuyama, Kiminori
× Matsuyama, Kiminori |
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著者所属 | ||||||
著者所属 | Northwestern University | |||||
著者所属 | ||||||
著者所属 | CIRJE | |||||
抄録 | ||||||
内容記述タイプ | Abstract | |||||
内容記述 | This paper extends Diamond (1965)'s one-sector neoclassical growth model with two-period lived, overlapping generations, by allowing the agents to make the labor force participation decision in their second period, in the spirit of Feldstein (1974). If the agents earn a high wage income when young, they choose to retire when old. This reduces the labor supply (through a lower participation rate of the elderly) and stimulates capital accumulation (through saving for retirement). The resulting high capital-labor ratio leads to a higher wage income for the next generation. If the agents earn a low wage income when young, they continue to work when old and save little, which implies a low capital-labor ratio and a low wage income for the next generation. Due to such positive feedback mechanisms, the endogeneity of retirement magnifies the persistence of growth dynamics, thereby slowing down a convergence to the steady state, and even generating multiple steady states for empirically plausible parameter values. | |||||
内容記述 | ||||||
内容記述タイプ | Other | |||||
内容記述 | 本文フィルはリンク先を参照のこと | |||||
書誌情報 |
Discussion paper series. CIRJE-F 巻 2002-CF-174, 発行日 2002-09 |
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書誌レコードID | ||||||
収録物識別子タイプ | NCID | |||||
収録物識別子 | AA11450569 | |||||
フォーマット | ||||||
内容記述タイプ | Other | |||||
内容記述 | application/pdf | |||||
日本十進分類法 | ||||||
主題 | 330 | |||||
主題Scheme | NDC | |||||
出版者 | ||||||
出版者 | 日本経済国際共同センター | |||||
出版者別名 | ||||||
Center for International Research on the Japanese Economy | ||||||
関係URI | ||||||
識別子タイプ | URI | |||||
関連識別子 | http://www.cirje.e.u-tokyo.ac.jp/research/dp/2002/2002cf174ab.html |