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

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Author Info
Atsue Mizushima () (Graduate School of Economics, Osaka University)

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Abstract

In this paper, we use a two-period overlapping generations model to examine the behavior of an economy that incorporates intergenerational transfers of time. In the first part, we describe the dynamics and steady state of the economy in which there is no government. We show that the rate of life expectancy has negative impact on the steady-state level of the capital stock. In the second part, we study the role and the effect of public long-term care policy. We also show that public long-term care lowers the steady-state level of the capital stock but enhances the welfare when the rate of tax is small.

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Publisher Info
Paper provided by Osaka University, Graduate School of Economics and Osaka School of International Public Policy (OSIPP) in its series Discussion Papers in Economics and Business with number 07-04.

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Length: 32 pages
Date of creation: Feb 2007
Date of revision:
Handle: RePEc:osk:wpaper:0704

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Web page: http://www.econ.osaka-u.ac.jp/
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Related research
Keywords: time transfers; household production; overlapping generations;

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Find related papers by JEL classification:
E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
I12 - Health, Education, and Welfare - - Health - - - Health Production
J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped
J22 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Time Allocation and Labor Supply

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    Other versions:
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  8. Darius Lakdawalla & Tomas Philipson, 2002. "The Rise in Old-Age Longevity and the Market for Long-Term Care," American Economic Review, American Economic Association, vol. 92(1), pages 295-306, March. [Downloadable!]
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  9. de la Croix, David & Licandro, Omar, 1999. "Life expectancy and endogenous growth," Economics Letters, Elsevier, vol. 65(2), pages 255-263, November. [Downloadable!] (restricted)
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  11. Pecchenino, Rowena A & Pollard, Patricia S, 1997. "The Effects of Annuities, Bequests, and Aging in an Overlapping Generations Model of Endogenous Growth," Economic Journal, Royal Economic Society, vol. 107(440), pages 26-46, January. [Downloadable!] (restricted)
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  12. Boucekkine, Raouf & de la Croix, David & Licandro, Omar, 2002. "Vintage Human Capital, Demographic Trends, and Endogenous Growth," Journal of Economic Theory, Elsevier, vol. 104(2), pages 340-375, June. [Downloadable!] (restricted)
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  15. Bednarek, Heather L & Pecchenino, Rowena A, 2002. " A Macroeconomic Analysis of Publicly Funded Health Care," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 4(2), pages 243-70. [Downloadable!] (restricted)
    Other versions:
  16. Futagami, Koichi & Nakajima, Tetsuya, 2001. "Population Aging and Economic Growth," Journal of Macroeconomics, Elsevier, vol. 23(1), pages 31-44, January. [Downloadable!] (restricted)
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