Pensions, education, and growth: A positive analysis

Tetsuo Ono and Yuki Uchida

Journal of Macroeconomics, 2016, vol. 48, issue C, 127-143

Abstract: This study presents an overlapping generations model to capture the nature of the competition between generations regarding two redistribution policies, public education and public pensions. From a political economy viewpoint, we investigate the effects of population aging on these policies and economic growth. We show that greater longevity results in a higher pension-to-GDP ratio. However, an increase in longevity produces an initial increase followed by a decrease in the public education-to-GDP ratio. This, in turn, results in a hump-shaped pattern of the growth rate.

Keywords: Economic growth; Population aging; Public education; Public pensions (search for similar items in EconPapers)
JEL-codes: D78 E24 H55 (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (26)

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Related works:
Working Paper: Pensions, Education, and Growth: A Positive Analysis (2016)
Working Paper: Pensions, Education, and Growth: A Positive Analysis (2015)
Working Paper: Pensions, Education, and Growth: A Positive Analysis (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jmacro:v:48:y:2016:i:c:p:127-143

DOI: 10.1016/j.jmacro.2016.03.005

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