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Golden-rule social security and public health in a dynastic model with endogenous longevity and fertility

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  • Jie Zhanga
  • Siew Ling Yew

Abstract

In this paper we investigate long-run optimal social security and public health and their effects on fertility, longevity, capital intensity, output per worker and welfare in a dynastic model with altruistic bequests. Under empirically plausible conditions, social security and public health reduce fertility and raise longevity, capital intensity and output per worker. The effects of social security, except that on longevity, are stronger than those of public health. Numerically, they can improve welfare (better when they are used together than used separately). We also illustrate numerically that there exists a unique convergent solution in the dynamic system at the steady state.

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File URL: http://www.buseco.monash.edu.au/eco/research/papers/2011/0711goldenruleyewzhang.pdf
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Bibliographic Info

Paper provided by Monash University, Department of Economics in its series Monash Economics Working Papers with number 07-11.

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Length: 40 pages
Date of creation: Jun 2011
Date of revision:
Handle: RePEc:mos:moswps:2011-07

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Related research

Keywords: Social security; Public health; Life expectancy; Fertility;

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Cited by:
  1. Pierre Pestieau & Gregory Ponthiere, 2012. "The Public Economics of Increasing Longevity," Hacienda Pública Española, IEF, vol. 200(1), pages 41-74, March.
  2. Pierre Pestieau & Grégory Ponthière, 2012. "The public economics of increasing longevity," Working Papers halshs-00676492, HAL.

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