Political Choice of Government Budget Finance in a Population Aging Economy

Akira Yakita

Chapter Chapter 8 in Population Aging, Fertility and Social Security, 2017, pp 115-128 from Springer

Abstract: Abstract This chapter investigates the effects of an unanticipated expansion in the length of retirement period on planned bequests to their offspring in an overlapping generations model with bequest motives and uncertain lifetime. The unexpected expansion of retirement requires extra payments of social security benefits to the retirees, which can be financed by either taxation or public debt issues. Population aging may lead a government to accumulate public debt.

Keywords: Public Debt; Government Budget; Government Debt; Debt Financing; Social Security Benefit (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:spr:popchp:978-3-319-47644-5_8

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DOI: 10.1007/978-3-319-47644-5_8

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