| 来源类型 | Discussion paper
|
| 规范类型 | 论文
|
| 来源ID | DP2815
|
| DP2815 Knowledge Spillovers at the World's Technology Frontier |
| Wolfgang Keller
|
| 发表日期 | 2001-05-29
|
| 出版年 | 2001
|
| 语种 | 英语
|
| 摘要 | The dramatic rise in the US social security and public health expenditure is only partially explained by the demographic trend. We suggest that the political complementarity between these two programmes induced a multiplicative response to the ageing process. Public health care increases the political constituency in favour of social security, and vice versa. Specifically, public health decreases the longevity differential between low and high-income individuals, therefore rising the retirement period and the total pension benefits of the former relatively to the latter. This effect, whose empirical relevance is confirmed by independent studies, increases the political support for social security among the low-income young. We show that in a political equilibrium of a two-dimensional majoritarian election, a voting majority of low-income young and all retirees supports a large welfare state. Its composition between public health and social security is determined by intermediate (median) income types, who favour a combination of the two programs, since public health increases their longevity enough to make social security more attractive. |
| 主题 | Labour Economics
; Public Economics
|
| 关键词 | Endogenous longevity
Subgame perfect structure induced equilibrium
|
| URL | https://cepr.org/publications/dp2815
|
| 来源智库 | Centre for Economic Policy Research (United Kingdom)
|
| 资源类型 | 智库出版物
|
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/531871
|
推荐引用方式
GB/T 7714 |
Wolfgang Keller. DP2815 Knowledge Spillovers at the World's Technology Frontier. 2001.
|
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