Original article Labor and Demographic Economics

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

Christina Karagyozova-Markova - BNB
Received: 10 Jun 2022
Revised:
Published:
Downloads: 0
Citations: 0
Issue 1/2016
JEL E62 D91 H55 J14 J26
DOI https://doi.org/10.56497/etj1661104

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.

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