Institutions | About Us | Help | Gaeilge
rian logo


Mark
Go Back
Social Security, Social Welfare and the Aging Population
Pecchenino, Rowena A.; Utendorf, Kelvin R.
This study examines the effects of pay-as-you-go social security programs in aging economies when the middle-aged both educate their dependent children and subsidize the retirement of the old. Using an overlapping generations framework in which agents are three-period lived but timing of death in the third period is uncertain, we analyze the effects of social security tax schemes, under various demographic assumptions, on capital accumulation, education expenditures, social welfare, and economic growth. We find that in many cases social security crowds out education, and reduces economic growth and social welfare.
Keyword(s): Economics, Finance & Accounting; Social Security; Education; Endogenous growth; Social Welfare; Aging; Population
Publication Date:
1999
Type: Journal article
Peer-Reviewed: No
Institution: Maynooth University
Citation(s): Pecchenino, Rowena A. and Utendorf, Kelvin R. (1999) Social Security, Social Welfare and the Aging Population. Journal of Population Economics, 12 (4). pp. 607-623. ISSN 0933-1433
Publisher(s): Springer Verlag
File Format(s): application/pdf
Related Link(s): http://eprints.maynoothuniversity.ie/2796/1/RP_Social_Security.pdf
First Indexed: 2014-09-20 05:04:37 Last Updated: 2017-04-25 20:11:25