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    Dependent Children and Aged Parents: Funding Education and Social Security in an Aging Economy

    Pecchenino, Rowena A. and Pollard, Patricia S. (2002) Dependent Children and Aged Parents: Funding Education and Social Security in an Aging Economy. Journal of Macroeconomics , 24 (2). pp. 145-169. ISSN 0164-0704

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    In the last few decades in the United States birth rates have declined and longevity has risen while productivity growth has slowed. Given such changes, the increasing burden of funding programs for the elderly is likely to shift resources away from the young and toward the elderly. This paper uses an overlapping generations framework to examine the effects of tax policies on an aging economy. We find that if the quality of the education system is sufficiently high then raising the education tax rate and subsequently lowering the social security tax rate enhances growth and welfare.

    Item Type: Article
    Additional Information: Preprint version of original published article.
    Keywords: education; social security; endogenous growth; aging;
    Academic Unit: Faculty of Social Sciences > Economics, Finance and Accounting
    Item ID: 2803
    Depositing User: Prof. Rowena Pecchenino
    Date Deposited: 26 Oct 2011 14:37
    Journal or Publication Title: Journal of Macroeconomics
    Publisher: Elsevier
    Refereed: No
    Use Licence: This item is available under a Creative Commons Attribution Non Commercial Share Alike Licence (CC BY-NC-SA). Details of this licence are available here

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