Social security policy with public debt in an aging economy
AbstractThis paper analyzes a social security policy with public debt in an overlapping generations growth model. In particular, the paper considers a situation in which population aging causes a heavy burden of social security payments where public debt is issued by the government to finance the payment. In the model presented below, an economy with an aging population may achieve two dynamically inefficient equilibria. Under certain conditions, the effects of pension reform and population aging on capital accumulation are entirely different between the two equilibria. Copyright Springer-Verlag Berlin Heidelberg 2003
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Bibliographic InfoArticle provided by Springer in its journal Journal of Population Economics.
Volume (Year): 16 (2003)
Issue (Month): 2 (05)
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Web page: http://link.springer.de/link/service/journals/00148/index.htm
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Other versions of this item:
- Ono, Tetsuo, 2002. "Social Security Policy with Public Debt in an Aging Economy," Discussion Paper 107, Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University.
- D91 - Microeconomics - - Intertemporal Choice - - - Intertemporal Household Choice; Life Cycle Models and Saving
- E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
- H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
- H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
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- Fanti Luciano e Spataro Luca, 2009. "Fertility and public debt," Discussion Papers 2009/89, Dipartimento di Economia e Management (DEM), University of Pisa, Pisa, Italy.
- Walter H. Fisher & Christian Keuschnigg, 2007.
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- Fanti, Luciano & Spataro, Luca, 2013. "On the relationship between fertility and public national debt," Economic Modelling, Elsevier, vol. 33(C), pages 843-849.
- Yasuoka, Masaya & Miyake, Atsushi, 2013.
"Public debt, child allowances and pension benefits with endogenous fertility,"
Economics - The Open-Access, Open-Assessment E-Journal,
Kiel Institute for the World Economy, vol. 7(11), pages 1-25.
- Yasuoka, Masaya & Miyake, Atsushi, 2012. "Public debt, child allowances, and pension benefits with endogenous fertility," Economics Discussion Papers 2012-47, Kiel Institute for the World Economy.
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