Intergenerational Transfers of Time and Public Long-term Care with an Aging Population

Atsue Mizushima ()

No ECO2008/36, Economics Working Papers from European University Institute

Abstract: Although a large number of studies have been done on intergenerational transfers of goods, little is known about intergenerational transfers of time. In step with an increase in the aging of the population, the demand for time-intensive transfers in health care and other health services increases. Using an overlapping generations model which incorporates uncertain longevity, we set up a model which incorporates intergenerational transfers of time and examine the macroeconomic effect of public long-term care policy (LTC). Using the model, we show that LTC decreases the steady state level of capital, but that it enhances the welfare level when the rate of tax is sufficiently small.

Keywords: time transfers; household production; overlapping generations model (search for similar items in EconPapers)
JEL-codes: E60 I12 J14 J22 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-age, nep-dge, nep-hea and nep-mac
Date: 2008
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Working Paper: Intergenerational Transfers of Time and Public Long-term Care with an Aging Population (2007)
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Persistent link: http://EconPapers.repec.org/RePEc:eui:euiwps:eco2008/36

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