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Aging Population and Education Finance

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Author Info
Gradstein, Mark
Kaganovich, Michael

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Abstract

Conventional wisdom suggests that aging of population will increase political pressure to tilt the composition of social spending in favour of the elderly, while potentially sacrificing other publicly provided goods such as education. This view seems to be supported by recent empirical findings that per child public education spending tends to be lower in US jurisdictions with higher fraction of elderly residents. Do these cross-sectional findings also carry the dynamic implication that longevity will lead over time to waning political support for funding of public education? This Paper challenges such implication. We present a model that is consistent with the aforementioned cross-sectional regressions yet predicts an overall positive impact of increasing longevity on public education funding and economic growth.

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Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 3950.

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Date of creation: Jun 2003
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Handle: RePEc:cpr:ceprdp:3950

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Related research
Keywords: local public funding of education overlapping generations political equilibrium

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Find related papers by JEL classification:
D99 - Microeconomics - - Intertemporal Choice and Growth - - - Other
H52 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Education
H73 - Public Economics - - State and Local Government; Intergovernmental Relations - - - Interjurisdictional Differentials and Their Effects
I22 - Health, Education, and Welfare - - Education - - - Educational Finance

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Rubinfeld, Daniel L, 1977. "Voting in a Local School Election: A Micro Analysis," The Review of Economics and Statistics, MIT Press, vol. 59(1), pages 30-42, February. [Downloadable!] (restricted)
  2. Persson, Torsten & Tabellini, Guido, 1997. "Political Economics and Macroeconomic Policy," CEPR Discussion Papers 1759, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
    Other versions:
  3. Soares, Jorge, 2003. "Self-interest and public funding of education," Journal of Public Economics, Elsevier, vol. 87(3-4), pages 703-727, March. [Downloadable!] (restricted)
  4. Phillip Swagel & Efraim Sadka & Assaf Razin, 2002. "The Aging of the Population and the Size of the Welfare State," IMF Working Papers 02/68, International Monetary Fund. [Downloadable!]
  5. Holtz-Eakin, Douglas & Lovely, Mary E. & Tosun, Mehmet S., 2004. "Generational conflict, fiscal policy, and economic growth," Journal of Macroeconomics, Elsevier, vol. 26(1), pages 1-23, March. [Downloadable!] (restricted)
  6. Boadway, Robin W & Wildasin, David E, 1989. "A Median Voter Model of Social Security," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 30(2), pages 307-28, May. [Downloadable!] (restricted)
  7. James M. Poterba, 1996. "Demographic Structure and the Political Economy of Public Education," NBER Working Papers 5677, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  8. Poterba, James M, 1998. "Demographic Change, Intergenerational Linkages, and Public Education," American Economic Review, American Economic Association, vol. 88(2), pages 315-20, May. [Downloadable!] (restricted)
  9. Ladd, Helen F. & Murray, Sheila E., 2001. "Intergenerational conflict reconsidered: county demographic structure and the demand for public education," Economics of Education Review, Elsevier, vol. 20(4), pages 343-357, August. [Downloadable!] (restricted)
  10. Browning, Edgar K, 1975. "Why the Social Insurance Budget Is Too Large in a Democracy," Economic Inquiry, Oxford University Press, vol. 13(3), pages 373-88, September.
  11. Assaf Razin & Efraim Sadka & Phillip Swagel, 2002. "The Aging Population and the Size of the Welfare State," Journal of Political Economy, University of Chicago Press, vol. 110(4), pages 900-918, August. [Downloadable!] (restricted)
    Other versions:
  12. Harris, Amy Rehder & Evans, William N. & Schwab, Robert M., 2001. "Education spending in an aging America," Journal of Public Economics, Elsevier, vol. 81(3), pages 449-472, September. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Michele Bernasconi & Paola Profeta, 2007. "Redistribution or Education? The Political Economy of the Social Race," CESifo Working Paper Series CESifo Working Paper No. , CESifo GmbH. [Downloadable!]
  2. Ueli Grob & Stefan C. Wolter, 2005. "Demographic Change and Public Education Spending: A Conflict between Young and Old?," CESifo Working Paper Series CESifo Working Paper No. , CESifo GmbH. [Downloadable!]
    Other versions:
  3. Gilat Levy, 2004. "Public Education for the Minority,Private Education for the Majority," STICERD - Theoretical Economics Paper Series /2004/470, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE. [Downloadable!]
  4. Ulrich Oberndorfer & Viktor Steiner, 2006. "Generationen- oder Parteienkonflikt? : Eine empirische Analyse der deutschen Hochschulausgaben," Discussion Papers of DIW Berlin 603, DIW Berlin, German Institute for Economic Research. [Downloadable!]
  5. Juergen Jung, 2008. "The Timing of Redistribution," Caepr Working Papers 2008-015, Center for Applied Economics and Policy Research, Economics Department, Indiana University Bloomington. [Downloadable!]
  6. Lars-Erik Borge & Jørn Rattsø, 2008. "Young and Old Competing for Public Welfare Services," CESifo Working Paper Series CESifo Working Paper No. , CESifo GmbH. [Downloadable!]
    Other versions:
  7. Ulrich Oberndorfer & Viktor Steiner, 2006. "Intergenerational Conflict, Partisan Politics, and Public Higher Education Spending: Evidence from the German States," IZA Discussion Papers 2417, Institute for the Study of Labor (IZA). [Downloadable!]
  8. Mehmet S. Tosun, 2005. "Global Aging and Fiscal Policy with International Labor Mobility: A Political Economy Perspective," IMF Working Papers 05/140, International Monetary Fund. [Downloadable!]
  9. Mehmet Serkan Tosun & Claudia Williamson & Pavel Yakovlev, 2007. "Population Aging, Elderly Migration and Education Spending: Intergenerational Conflict Revisited," Working Papers 07-003, University of Nevada, Reno, Department of Economics & University of Nevada, Reno , Department of Resource Economics. [Downloadable!]
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