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Intergenerational Transfers of Time and Public Long-term Care with an Aging Population

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  • Atsue Mizushima

Abstract

Although a large number of studies have been done on intergenerational transfers of goods, little is known about intergenerational transfers of time. In step with an increase in the aging of the population, the demand for time-intensive transfers in health care and other health services increases. Using an overlapping generations model which incorporates uncertain longevity, we set up a model which incorporates intergenerational transfers of time and examine the macroeconomic effect of public long-term care policy (LTC). Using the model, we show that LTC decreases the steady state level of capital, but that it enhances the welfare level when the rate of tax is sufficiently small.

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Bibliographic Info

Paper provided by European University Institute in its series Economics Working Papers with number ECO2008/36.

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Date of creation: 2008
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Handle: RePEc:eui:euiwps:eco2008/36

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Keywords: time transfers; household production; overlapping generations model;

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Cited by:
  1. Shin, Inyong, 2013. "The Effect of Compressed Demographic Transition and Demographic Gift on Economic Growth," MPRA Paper 45003, University Library of Munich, Germany.
  2. Masaya Yasuoka, 2013. "Subsidies for Elderly Care in Pay-As-You-Go Pension," Discussion Paper Series 109, School of Economics, Kwansei Gakuin University, revised Sep 2013.

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