Peng Xi* | Chen Zhongchang | Yu Jiajia
OPEN ACCESS
This paper compared with different social security system, Pay-as-you-go (PAYG) and Funded pension system, and they have different degrees of impact on savings rates and economic growth in an overlapping generations model by using discrete optimization method and the Bellman equation, solving the value function makes it possible to obtain its optimal solution.
Funded pension system; PAYG pension System; OLG model; economic growth
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