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Table 1 Various parameters and value setting

From: The choice of pension and retirement systems when post-1960s baby boomers start to retire in China

Parameters Value setting Setting basis
K i (million) 1,329,516 Gu and Zhang (2012)
L i (person) 656,863,206 Sixth census data
α 0.5 Lu and Cai (2014)
A 0.021455305 Calibrated
σ 0.95 Yang (2006)
β 0.98 Liao (2013)
δ 0.05 Lu and Cai (2014)
μ 0.2 Liao (2013)
ɸ 0.1 Yang et al. (2015)