Economic Growth and the Politics of Intergenerational Redistribution

Tetsuo Ono

No 14-17-Rev., Discussion Papers in Economics and Business from Osaka University, Graduate School of Economics

Abstract: This study presents an overlapping-generation model featuring probabilistic vot- ing over two policy issues: pensions and public goods. The results show that as the population ages, the pension-to-GDP ratio and the growth rate of capital increase, but the public goods-to-GDP ratio decreases. Moreover, per retiree pension-to- GDP shows a hump-shaped pattern in response to population aging, but only a rising phase is valid under empirically plausible parameter values.

Keywords: Economic Growth; Population Aging; Probabilistic Voting; Public Pension; Public Goods Provision (search for similar items in EconPapers)
JEL-codes: D70 E24 H55 (search for similar items in EconPapers)
Pages: 26 pages
Date: 2014-04, Revised 2015-09
New Economics Papers: this item is included in nep-age, nep-dge, nep-gro, nep-mac and nep-pol
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Working Paper: Economic Growth and the Politics of Intergenerational Redistribution (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:osk:wpaper:1417r

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