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http://dspace.mediu.edu.my:8181/xmlui/handle/10419/19144| Title: | Probabilistic aging |
| Keywords: | J21 H55 D91 D58 ddc:330 overlapping generations aging demographics life-cycle earnings Overlapping Generations Alternde Bevölkerung Bevölkerungsentwicklung Lebenseinkommen Theorie |
| Issue Date: | 16-Oct-2013 |
| Publisher: | |
| Description: | The paper develops an overlapping generations model with probabilistic aging of households. We define age as a set of personal attributes such as earnings potential, health and tastes that are characteristic of a person's position in the life-cycle. In assuming a limited number of different states of age, we separate the concepts of age and time since birth. Agents may retain their age characteristics for several periods before they move with a given probability to another state of age. Different generations that share the same age characteristics are aggregated analytically to a low number of age groups. The probabilistic aging model thus allows for a very parsimonious yet rather close approximation of demographic structure and life-cycle differences in earnings, wealth and consumption. Existing classes of overlapping generations models follow as special cases. |
| URI: | http://koha.mediu.edu.my:8181/xmlui/handle/10419/19144 |
| Other Identifiers: | http://hdl.handle.net/10419/19144 ppn:510027466 |
| Appears in Collections: | EconStor |
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