%0 Journal Article
%T Economic ageing and demographic change
%A Dominik Grafenhofer
%A Christian Jaag
%A Christian Keuschnigg
%A Mirela Keuschnigg
%J Vienna Yearbook of Population Research
%D 2007
%I Verlag der ?sterreichischen Akademie der Wissenschaften
%X This paper presents a generalised model of overlapping generations with economic ageing of households. Economic age is defined as a set of personal attributes such as earnings potential and tastes that are characteristic of a person¡¯s position in the life-cycle. We separate the concepts of economic age and time since birth by assuming only a small number of different states of age. Agents sharing the same economic characteristics are aggregated analytically to a small number of age groups. The model thus allows for a very parsimonious approximation of life-cycle differences in earnings, wealth and consumption. As an illustration, we apply the model quantitatively to study the impact of demographic change.
%K Ageing
%K Population ageing
%K Economic models
%K Population
%K Generations
%K Economic ageing
%K Overlapping generations
%K Life cycle
%U http://www.oeaw.ac.at/vid/publications/VYPR2007/Yearbook2007_Grafenhofer-et-al._pp133-165.pdf