Evaluating the effects of population ageing on long-term
growth and pension system sustainability in Bulgaria
through an overlapping generations model Cover Image

Оценяване на ефектите от застаряването на населението върху дългосрочния растеж и устойчивостта на пенсионната система чрез модел със застъпващи се генерации за България
Evaluating the effects of population ageing on long-term growth and pension system sustainability in Bulgaria through an overlapping generations model

Author(s): Kristina Karagyozova-Markova
Subject(s): Economy, National Economy, Human Resources in Economy
Published by: Институт за икономически изследвания при Българска академия на науките
Keywords: JEL: E62; D91; H55; J14; J26

Summary/Abstract: The article provides an overview of the simulations with a general equilibrium overlapping generations model, which is based on the theoretical setups, developed by Gertler and Grafenhofer et al. The model (BG-OLG) is calibrated for Bulgaria and evaluates the long-term effects of ageing on economic growth and public finance sustainability under different scenarios for the retirement age. On the basis of the model-based simulations, policy recommendations aimed at minimizing the macro-fiscal costs of population ageing are drawn.

  • Issue Year: 2016
  • Issue No: 1
  • Page Range: 59-78
  • Page Count: 20
  • Language: Bulgarian