Generational Distribution of Fiscal Burdens: A Positive Analysis
Yuki Uchida and
Tetsuo Ono ()
MPRA Paper from University Library of Munich, Germany
This study presents a political economy model with overlapping generations to analyze the effects of population aging on fiscal policy formation and the resulting distribution of the fiscal burden across generations. The analysis shows that both an increased life expectancy and a decreased population growth rate increase the ratios of government debt and labor income tax revenue to GDP. However, they decrease the ratio of capital income tax revenue to GDP. Furthermore, it also shows that the increased political weight of the elderly creates an increase in the ratios of public debt and labor income tax revenue to GDP, as well as an initial decrease followed by an increase in the ratio of capital income tax revenue to GDP.
Keywords: Generational burden; Overlapping generations; Political economy; Population aging; Public debt (search for similar items in EconPapers)
JEL-codes: D70 E24 E62 H60 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-age, nep-dge and nep-mac
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Working Paper: Generational Distribution of Fiscal Burdens: A Positive Analysis (2021)
Working Paper: Generational Distribution of Fiscal Burdens: A Positive Analysis (2020)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:110634
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