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Incentives and Product Variety in an Aging Economy

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  • Kazutoshi Miyazawa

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Abstract

This paper presents a new method to clarify intergenerational effects of the demographic change in industrialized countries, i.e., the trend of aging. Recognized effects of aging are twofold; a disincentive effect and a product variety effect. The results are consistent with the empirical findings in Cutler et al. (1990). With the evidence, our model predicts that “diminished fertility represents a problem rather than an opportunity,” and that “diminished mortality represents an opportunity rather than a problem.” Copyright Kluwer Academic Publishers 2001

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File URL: http://hdl.handle.net/10.1023/A:1011280705020
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Article provided by Springer & International Institute of Public Finance in its journal International Tax and Public Finance.

Volume (Year): 8 (2001)
Issue (Month): 4 (August)
Pages: 595-607

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Handle: RePEc:kap:itaxpf:v:8:y:2001:i:4:p:595-607
DOI: 10.1023/A:1011280705020
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Keywords: aging; product variety; human capital investment;

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  1. Michael Spence, 1976. "Product Selection, Fixed Costs, and Monopolistic Competition," Review of Economic Studies, Oxford University Press, vol. 43(2), pages 217-235.
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