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Time preference, international migration, and social security


  • Volker Meier

    () (Department of Economics, University of Halle, Grosse Steinstrasse 73, D-06099 Halle, Saale, Germany)


This paper analyzes both the formation of long-run migration incentives and the consequences of a regime change from "autarky" to "free migration" in an overlapping-generations framework with two countries. Under autarky the countries may differ with respect to their aggregate savings rate or with respect to their pension-wage ratio. It is shown that an individual prefers to live in a country where the capital-labor ratio is close to the Golden Rule level and where his characteristics are relatively scarce. Both the migration incentives and the consequences of free migration are determined by these two effects.

Suggested Citation

  • Volker Meier, 2000. "Time preference, international migration, and social security," Journal of Population Economics, Springer;European Society for Population Economics, vol. 13(1), pages 127-146.
  • Handle: RePEc:spr:jopoec:v:13:y:2000:i:1:p:127-146
    Note: Received: 2 March 1998/Accepted: 10 February 1999

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    References listed on IDEAS

    1. Jean-Pierre Vidal & Philippe Michel & Bertrand Crettez, 1996. "Time preference and labour migration in an OLG model with land and capital," Journal of Population Economics, Springer;European Society for Population Economics, vol. 9(4), pages 387-403.
    2. Galor, Oded & Stark, Oded, 1991. "The Impact of Differences in the Levels of Technology on International Labor Migration," Journal of Population Economics, Springer;European Society for Population Economics, vol. 4(1), pages 1-12, March.
    3. Scholten, Ulrich & Thum, Marcel, 1996. "Public Pensions and Immigration Policy in a Democracy," Public Choice, Springer, vol. 87(3-4), pages 347-361, June.
    4. Galor, Oded, 1986. "Time preference and international labor migration," Journal of Economic Theory, Elsevier, vol. 38(1), pages 1-20, February.
    5. Stefan Homburg & Wolfram Richter, 1993. "Harmonizing public debt and public pension schemes in the European community," Journal of Economics, Springer, vol. 7(1), pages 51-63, December.
    6. Kondo, Hitoshi, 1989. "International Factor Mobility and Production Technology," Journal of Population Economics, Springer;European Society for Population Economics, vol. 2(4), pages 281-299.
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    Cited by:

    1. Alain Jousten & Pierre Pestieau, 2002. "Labor Mobility, Redistribution, and Pension Reform in Europe," NBER Chapters,in: Social Security Pension Reform in Europe, pages 85-108 National Bureau of Economic Research, Inc.
    2. Klaus Nowotny, 2010. "Risk Aversion, Time Preference and Cross-border Commuting and Migration Intentions," WIFO Working Papers 379, WIFO.
    3. Leers, Theo & Meijdam, Lex & Verbon, Harrie A. A., 2004. "Ageing, migration and endogenous public pensions," Journal of Public Economics, Elsevier, vol. 88(1-2), pages 131-159, January.
    4. Ito, Hiroyuki & Tabata, Ken, 2008. "Demographic structure and growth: The effect of unfunded social security," Economics Letters, Elsevier, vol. 100(2), pages 288-291, August.
    5. Hiroyuki Ito & Ken Tabata, 2010. "The spillover effects of population aging, international capital flows, and welfare," Journal of Population Economics, Springer;European Society for Population Economics, vol. 23(2), pages 665-702, March.
    6. Klaus Nowotny, 2014. "Cross-border commuting and migration intentions: the roles of risk aversion and time preference," Contemporary Economics, University of Finance and Management in Warsaw, vol. 8(2), June.

    More about this item


    International migration; social security;

    JEL classification:

    • F22 - International Economics - - International Factor Movements and International Business - - - International Migration
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions


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