Should Income Transfers be Targeted or Universal? Insights from Public Pension Influences on Elderly Mortality in Canada
AbstractWe investigate the impact of Canadaâ€™s means-tested and universal public pension programs on the mortality rates of recipient age groups for the period 1921â€“1966. We find that only the universal program significantly reduced recipient age group mortality rates. The implied social value of the mortality risk reduction from this program is one-tenth of the value per statistical life associated with contemporary government policy, meaning that Canadians did not need to place a high value on the life of a senior to justify the higher cost of the universal program.
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Bibliographic InfoPaper provided by Department of Economics, University of Calgary in its series Working Papers with number 2011-02.
Date of creation: 01 Jan 2011
Date of revision: 01 Jan 2011
Find related papers by JEL classification:
- I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health
- I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs
- J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
- J17 - Labor and Demographic Economics - - Demographic Economics - - - Value of Life; Foregone Income
- N32 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy - - - U.S.; Canada: 1913-
This paper has been announced in the following NEP Reports:
- NEP-AGE-2011-02-19 (Economics of Ageing)
- NEP-ALL-2011-02-19 (All new papers)
- NEP-CIS-2011-02-19 (Confederation of Independent States)
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