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Public Finance in an Era of Global Demographic Change: Fertility Busts, Migration Booms, and Public Policy

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Listed author(s):
  • David Wildasin

    ()

    (Martin School of Public Policy and Administration and Department of Economics, University of Kentucky)

Abstract

The rich countries of the world, especially those of Western Europe, are aging rapidly due to fertility rates far below the replacement rate, while experiencing substantial immigration from elsewhere in Europe, North Africa, and the third world generally. For the foreseeable future, West European countries will confront a policy tradeoff between population aging and (im)migration. The literature shows that both skilled and unskilled workers affect the highly redistributive fiscal systems of the advanced economies, the first as net contributors, the second as net beneficiaries. Age-imbalanced population structures in rich countries and global competition for labor create incentives to limit the extent of redistribution in rich countries.

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File URL: http://www.ifigr.org/publication/ifir_working_papers/IFIR-WP-2008-02.pdf
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Paper provided by University of Kentucky, Institute for Federalism and Intergovernmental Relations in its series Working Papers with number 2008-02.

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Length: 45 pages
Date of creation: Jan 2008
Handle: RePEc:ifr:wpaper:2008-02
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Keywords: Aging; Public Pensions; Migration; Fiscal Adjustment;

Find related papers by JEL classification:

  • H0 - Public Economics - - General
  • F2 - International Economics - - International Factor Movements and International Business
  • J61 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Geographic Labor Mobility; Immigrant Workers

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  1. Wildasin, David E., 2003. "Fiscal competition in space and time," Journal of Public Economics, Elsevier, vol. 87(11), pages 2571-2588, October.
  2. Redoano, Michela, 2003. "Fiscal Interactions Among European Countries," The Warwick Economics Research Paper Series (TWERPS) 680, University of Warwick, Department of Economics.
  3. Wildasin, David E, 1990. "Non-neutrality of Debt with Endogenous Fertility," Oxford Economic Papers, Oxford University Press, vol. 42(2), pages 414-428, April.
  4. Wilson John Douglas, 1995. "Mobile Labor, Multiple Tax Instruments, and Tax Competition," Journal of Urban Economics, Elsevier, vol. 38(3), pages 333-356, November.
  5. David E. Wildasin, 2003. "Fiscal Policy, Human Capital, and Canada-US Labor Market Integration," Public Economics 0309006, EconWPA.
  6. Keen, Michael & Marchand, Maurice, 1997. "Fiscal competition and the pattern of public spending," Journal of Public Economics, Elsevier, vol. 66(1), pages 33-53, October.
  7. Kjetil Storesletten, 2000. "Sustaining Fiscal Policy through Immigration," Journal of Political Economy, University of Chicago Press, vol. 108(2), pages 300-323, April.
  8. Leimer, Dean R & Lesnoy, Selig D, 1982. "Social Security and Private Saving: New Time-Series Evidence," Journal of Political Economy, University of Chicago Press, vol. 90(3), pages 606-629, June.
  9. Thum, Claudio & Uebelmesser, Silke, 2003. "Mobility and the Role of Education as a Commitment Device," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 10(5), pages 549-564, September.
  10. J. A. Mirrlees, 1971. "An Exploration in the Theory of Optimum Income Taxation," Review of Economic Studies, Oxford University Press, vol. 38(2), pages 175-208.
  11. David E. Wildasin, 2000. "Labor-Market Integration, Investment in Risky Human Capital, and Fiscal Competition," American Economic Review, American Economic Association, vol. 90(1), pages 73-95, March.
  12. M. Dolores Collado & IÒigo Iturbe-Ormaetxe & Guadalupe Valera, 2004. "Quantifying the Impact of Immigration on the Spanish Welfare State," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 11(3), pages 335-353, 05.
  13. David E. Wildasin, 2005. "Fiscal Competition," Working Papers 2005-05, University of Kentucky, Institute for Federalism and Intergovernmental Relations.
  14. Weingast, Barry R. & Wittman, Donald, 2008. "The Oxford Handbook of Political Economy," OUP Catalogue, Oxford University Press, number 9780199548477, April.
  15. Meltzer, Allan H & Richard, Scott F, 1981. "A Rational Theory of the Size of Government," Journal of Political Economy, University of Chicago Press, vol. 89(5), pages 914-927, October.
  16. Wilson, John Douglas & Wildasin, David E., 2004. "Capital tax competition: bane or boon," Journal of Public Economics, Elsevier, vol. 88(6), pages 1065-1091, June.
  17. Wilson, John Douglas, 1999. "Theories of Tax Competition," National Tax Journal, National Tax Association, vol. 52(2), pages 269-304, June.
  18. Agnar Sandmo & David Wildasin, 1999. "Taxation, Migration, and Pollution," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 6(1), pages 39-59, February.
  19. Riphahn, Regina, 1999. "Immigrant Participation in Social Assistance Programs: Evidence from German Guestworkers," CEPR Discussion Papers 2318, C.E.P.R. Discussion Papers.
  20. Thai-Thanh Dang & Pablo Antolín & Howard Oxley, 2001. "Fiscal Implications of Ageing: Projections of Age-Related Spending," OECD Economics Department Working Papers 305, OECD Publishing.
  21. Feldstein, Martin S, 1974. "Social Security, Induced Retirement, and Aggregate Capital Accumulation," Journal of Political Economy, University of Chicago Press, vol. 82(5), pages 905-926, Sept./Oct.
  22. Wilson, John Douglas, 1999. "Theories of Tax Competition," National Tax Journal, National Tax Association, vol. 52(n. 2), pages 269-304, June.
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Cited by:

  1. David E. Wildasin, 2006. "Global Competition for Mobile Resources: Implications for Equity, Efficiency and Political Economy," CESifo Economic Studies, CESifo, vol. 52(1), pages 61-110, March.

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