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Time preference, international migration, and social security

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  • Meier, Volker

Abstract

This paper analyzes both the formation of long-run migration incentives and the consequences of a regime change from \"autarky\" to \"free migration\" in an overlapping-generations framework with two countries. Under autarky the countries may differ with respect to their aggregate savings rate or with respect to their pension-wage ratio. It is shown that an individual prefers to live in a country where the capital-labor ratio is close to the Golden Rule level and where his characteristics are relatively scarce. Both the migration incentives and the consequences of free migration are determined by these two effects.

Suggested Citation

  • Meier, Volker, 2000. "Time preference, international migration, and social security," Munich Reprints in Economics 19190, University of Munich, Department of Economics.
    • Handle: RePEc:lmu:muenar:19190
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    References listed on IDEAS

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    1. Joseph E. Stiglitz, 1977. "The Theory of Local Public Goods," International Economic Association Series, in: Martin S. Feldstein & Robert P. Inman (ed.), The Economics of Public Services, chapter 12, pages 274-333, Palgrave Macmillan.
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    8. Meier, Volker, 1994. "Long-Run Migration Incentives and Migration Effects: The Case of Different Fertility Rates," Munich Reprints in Economics 19246, University of Munich, Department of Economics.
    9. Jean-Pierre Vidal & Philippe Michel & Bertrand Crettez, 1996. "Time preference and labour migration in an OLG model with land and capital," Journal of Population Economics, Springer;European Society for Population Economics, vol. 9(4), pages 387-403.
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    Cited by:

    1. Alain Jousten & Pierre Pestieau, 2002. "Labor Mobility, Redistribution, and Pension Reform in Europe," NBER Chapters, in: Social Security Pension Reform in Europe, pages 85-108, National Bureau of Economic Research, Inc.
    2. Klaus Nowotny, 2010. "Risk Aversion, Time Preference and Cross-border Commuting and Migration Intentions," WIFO Working Papers 379, WIFO.
    3. Leers, Theo & Meijdam, Lex & Verbon, Harrie A. A., 2004. "Ageing, migration and endogenous public pensions," Journal of Public Economics, Elsevier, vol. 88(1-2), pages 131-159, January.
    4. Ito, Hiroyuki & Tabata, Ken, 2008. "Demographic structure and growth: The effect of unfunded social security," Economics Letters, Elsevier, vol. 100(2), pages 288-291, August.
    5. Hiroyuki Ito & Ken Tabata, 2010. "The spillover effects of population aging, international capital flows, and welfare," Journal of Population Economics, Springer;European Society for Population Economics, vol. 23(2), pages 665-702, March.
    6. Marek Loužek, 2008. "Zachrání Evropu imigrace? [Will immigration save Europe?]," Politická ekonomie, Prague University of Economics and Business, vol. 2008(3), pages 362-379.
    7. Klaus Nowotny, 2014. "Cross-border commuting and migration intentions: the roles of risk aversion and time preference," Contemporary Economics, University of Economics and Human Sciences in Warsaw., vol. 8(2), June.

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    More about this item

    JEL classification:

    • F22 - International Economics - - International Factor Movements and International Business - - - International Migration
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions

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