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Social Security Policy with Public Debt in an Aging Economy

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Author Info
Ono, Tetsuo

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Abstract

This 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.

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File URL: http://hermes-ir.lib.hit-u.ac.jp/rs/bitstream/10086/14518/1/pie_dp107.pdf
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Publisher Info
Paper provided by Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University in its series Discussion Paper with number 107.

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Length: 32, [4] p.
Date of creation: Aug 2002
Date of revision:
Handle: RePEc:hit:piedp1:107

Note: June 4, 2002
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Web page: http://cis.ier.hit-u.ac.jp/
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Related research
Keywords: Population aging; Social security; Pension reform; Public debt; Economic growth; Overlapping generations;

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Find related papers by JEL classification:
D91 - Microeconomics - - Intertemporal Choice and Growth - - - Intertemporal Consumer 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

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. Fanti Luciano e Spataro Luca, 2009. "Fertility and public debt," Discussion Papers 2009/89, Dipartimento di Scienze Economiche (DSE), University of Pisa, Pisa, Italy. [Downloadable!]
  2. Walter H. Fisher & Christian Keuschnigg, 2007. "Pension Reform and Labor Market Incentives," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
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This page was last updated on 2009-11-20.

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