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Dependent Children and Aged Parents: Funding Education and Social Security in an Aging Economy

Pecchenino, Rowena A. and Pollard, Patricia S. (2002) Dependent Children and Aged Parents: Funding Education and Social Security in an Aging Economy. Journal of Macroeconomics , 24 (2). pp. 145-169. ISSN 0164-0704

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Abstract

In the last few decades in the United States birth rates have declined and longevity has risen while productivity growth has slowed. Given such changes, the increasing burden of funding programs for the elderly is likely to shift resources away from the young and toward the elderly. This paper uses an overlapping generations framework to examine the effects of tax policies on an aging economy. We find that if the quality of the education system is sufficiently high then raising the education tax rate and subsequently lowering the social security tax rate enhances growth and welfare.

Item Type: Article
Additional Information: Preprint version of original published article.
Keywords: education; social security; endogenous growth; aging;
Subjects: Social Sciences > Economics
Item ID: 2803
Depositing User: Prof. Rowena Pecchenino
Date Deposited: 26 Oct 2011 14:37
Journal or Publication Title: Journal of Macroeconomics
Publisher: Elsevier
Refereed: No
URI:

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