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Endogenous Retirement Behavior of Heterogeneous Households Under Pension Reforms
We propose a unified framework to measure the effects of different reforms of the pension system on retirement ages and macroeconomic indicators in the face of demographic change. A rich overlapping generations (OLG) model ...
Asset Pricing in OLG Economies With Borrowing Constraints and Idiosyncratic Income Risk
This paper analyzes how the combination of borrowing constraints and idiosyncratic risk affects the equity premium in an overlapping generations economy. I find that introducing a zero-borrowing constraint in an economy ...
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