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Annex 1 Technical description of the OGRE model
In this technical appendix, first, we focus on solving the optimizing problems of the young and old generations, we describe the pay-as-you-go pension system and the price and wage setting equations of the firms. At the end, we provide the normalized – detrended by population growth – equations and the steady-state calculation of the model. Regarding any other technical detail, further information is available from the authors upon request.