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Analyzing an Aging Population---A Dynamic General Equilibrium Approach--- Author info | Abstract | Publisher info | Download info | Related research | Statistics Shinichi Nishiyama (Congressional Budget Office)
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This paper shows the macroeconomic and welfare implications of an aging population in the United States, using an overlapping-generations model with heterogeneous households. The model uses three population projections in Social Security Administration (2003), and generates economies as equilibrium transition paths from 1961 to 2200. The paper demon-strates how several different population projections and government financing assumptions\ to make the Social Security system sustainable\affect householdsf decisions and welfare. One of the policy experiments shows that an immediate increase in the payroll tax may not improve the welfare of future generations as much as it reduces the welfare of current gener-ations.
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Paper provided by CIRJE, Faculty of Economics, University of Tokyo in its series CIRJE F-Series with number
CIRJE-F-266.
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Length: 43 pages
Date of creation: Mar 2004Date of revision:
Handle: RePEc:tky:fseres:2004cf266Contact details of provider: Web page: http://www.e.u-tokyo.ac.jp/cirje/index.htm
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References listed on IDEAS 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.: Jagadeesh Gokhale & Laurence J. Kotlikoff & John Sabelhaus, 1996.
"Understanding the Postwar Decline in U.S. Saving: A Cohort Analysis ,"
Brookings Papers on Economic Activity ,
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Hans Fehr & Sabine Jokisch & Laurence Kotlikoff, 2003.
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"Wealth distribution in life-cycle economies ,"
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Douglas W. Elmendorf & Louise M. Sheiner, 2000.
"Should America Save for Its Old Age? Fiscal Policy, Population Aging, and National Saving ,"
Journal of Economic Perspectives ,
American Economic Association, vol. 14(3), pages 57-74, Summer.
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Cutler, D.M. & Poterba, J.M. & Sheiner, L.M. & Summers, L.H., 1990.
"An Aging Society: Opportunity Or Challenge ,"
Working papers
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Other versions:
David M. Cutler & James M. Poterba & Louise M. Sheiner & Lawrence H. Summers, 1991.
"An Aging Society: Opportunity or Challenge? ,"
NBER Reprints
1559, National Bureau of Economic Research, Inc.
David M. Cutler & James M. Poterba & Louise M. Sheiner & Lawrence H. Summers, 1990.
"An Aging Society: Opportunity or Challenge? ,"
Brookings Papers on Economic Activity ,
Economic Studies Program, The Brookings Institution, vol. 21(1990-1), pages 1-74.
[Downloadable!] John Laitner, 2003.
"Labor Supply Responses to Social Security ,"
Working Papers
wp050, University of Michigan, Michigan Retirement Research Center.
[Downloadable!]
José-VÃctor RÃos-Rull, 2001.
"Population Changes and Capital Accumulation: The Aging of the Baby Boom ,"
Advances in Macroeconomics ,
Berkeley Electronic Press, vol. 1(advances/), pages 1008-1008.
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Jagadeesh Gokhale & Laurence J. Kotlikoff & John Sabelhaus, 1996.
"Understanding the Postwar Decline in U.S. Saving: A Cohort Analysis ,"
NBER Working Papers
5571, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Mark Huggett & Gustavo Ventura, 1999.
"On the Distributional Effects of Social Security Reform ,"
Review of Economic Dynamics ,
Elsevier for the Society for Economic Dynamics, vol. 2(3), pages 498-531, July.
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Other versions:
Hugett, M. & Ventura, G., 1997.
"On the Distributional Effects of Social Security Reform ,"
UWO Department of Economics Working Papers
9710, University of Western Ontario, Department of Economics.
Mark Huggett & Gustavo Ventura, 1998.
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Juan C. Conesa & Dirk Krueger, 1999.
"Social Security Reform with Heterogeneous Agents ,"
Review of Economic Dynamics ,
Elsevier for the Society for Economic Dynamics, vol. 2(4), pages 757-795, October.
[Downloadable!] (restricted)
repec:fth:harver:1490 is not listed on IDEAS
Shinichi Nishiyama & Kent Smetters, 2003.
"Consumption Taxes and Economic Efficiency in a Stochastic OLG Economy ,"
NBER Working Papers
9492, National Bureau of Economic Research, Inc.
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Pierre-Olivier Gourinchas & Jonathan A. Parker, 2002.
"Consumption Over the Life Cycle ,"
Econometrica ,
Econometric Society, vol. 70(1), pages 47-89, January.
[Downloadable!] (restricted)
Other versions: Shinichi Nishiyama, 2002.
"Bequests, Inter Vivos Transfers, and Wealth Distribution ,"
Review of Economic Dynamics ,
Elsevier for the Society for Economic Dynamics, vol. 5(4), pages 892-931, October.
[Downloadable!] (restricted)
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references 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.)
Shinichi Nishiyama & Kent Smetters, 2005.
"Does Social Security Privatization Produce Efficiency Gains? ,"
Working Papers
wp106, University of Michigan, Michigan Retirement Research Center.
[Downloadable!]
Other versions:
Shinichi Nishiyama & Kent Smetters, 2005.
"Does Social Security Privatization Produce Efficiency Gains? ,"
NBER Working Papers
11622, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted) Shinichi Nishiyama & Kent Smetters, 2007.
"Does Social Security Privatization Produce Efficiency Gains? ,"
The Quarterly Journal of Economics ,
MIT Press, vol. 122(4), pages 1677-1719, November.
[Downloadable!] (restricted)
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