Social Security, Social Welfare and the Aging Population
AbstractThis study examines the effects of pay-as-you-go social security programs in aging economies when the middle-aged both educate their dependent children and subsidize the retirement of the old. Using an overlapping generations framework in which agents are three-period lived but timing of death in the third period is uncertain, we analyze the effects of social security tax schemes, under various demographic assumptions, on capital accumulation, education expenditures, social welfare, and economic growth. We find that in many cases social security crowds out education, and reduces economic growth and social welfare.
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Bibliographic InfoPaper provided by Michigan State - Econometrics and Economic Theory in its series Papers with number 9403.
Length: 20 pages
Date of creation: 1994
Date of revision:
Contact details of provider:
Postal: MICHIGAN STATE UNIVERSITY, DEPARTMENT OF ECONOMICS, EAST LANSING MICHIGAN 48824 U.S.A.
Web page: http://econ.msu.edu/
More information through EDIRC
SOCIAL SECURITY; SOCIAL WELFARE; DEMOGRAPHY; AGING;
Other versions of this item:
- Kelvin R. Utendorf & Rowena A. Pecchenino, 1999. "Social security, social welfare and the aging population," Journal of Population Economics, Springer, vol. 12(4), pages 607-623.
- D9 - Microeconomics - - Intertemporal Choice and Growth
- H2 - Public Economics - - Taxation, Subsidies, and Revenue
- I2 - Health, Education, and Welfare - - Education
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