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Intergenerational transfers of time and public long-term care with an aging population

  • Mizushima, Atsue

Although a large number of studies have been done on intergenerational transfers of goods, little is known about intergenerational transfers of time. In step with an increase in the aging of the population, the demand for time-intensive transfers in health care and other health services increases. Using an overlapping generations model which incorporates uncertain longevity, we set up a model which incorporates intergenerational transfers of time and examine the macroeconomic effect of public long-term care policy (LTC). Using the model, we show that LTC decreases the steady state level of capital stock, but that it enhances the welfare level in an aging economy, when the rate of tax is sufficiently small.

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Article provided by Elsevier in its journal Journal of Macroeconomics.

Volume (Year): 31 (2009)
Issue (Month): 4 (December)
Pages: 572-581

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Handle: RePEc:eee:jmacro:v:31:y:2009:i:4:p:572-581
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/622617

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