Ageing and Welfare-State Policy Making: Macroeconomic Perspective / Assaf Razin, Alexander Horst Schwemmer.

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Razin, Assaf

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TextSeries: Working Paper Series (National Bureau of Economic Research) ; no. w29162.Publication details: Cambridge, Mass. National Bureau of Economic Research 2021.Description: 1 online resource: illustrations (black and white)Subject(s):

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Abstract: It has been well recognized that population ageing could generate structural changes centered around the dwindling labor force, on one hand, and the expanding dependency on the generosity of the welfare state, on the other hand. Ageing-related welfare state policy entails both fiscal issues and migration issues. The paper employs a general-equilibrium model with a policy-making focus, to help understand the mechanism governing the provision of social benefits, labor income taxation, capital income taxation, migration curbs on low skilled and high skilled, driven by the ageing of the population. Greater generosity of the welfare state comes together with policy of a more liberal migration policy -- incentive compatible with the interests of the majority voters.

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Working Paper	Biblioteca Digital	Colección NBER	nber w29162 (Browse shelf(Opens below))	Not For Loan

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Previous	nber w2916 Strategic Trade Policy When Domestic Firms Compete Against Vertically Integrated Rivals /	nber w29160 Corrective Regulation with Imperfect Instruments /	nber w29161 Demographics, Wealth, and Global Imbalances in the Twenty-First Century /	nber w29162 Ageing and Welfare-State Policy Making: Macroeconomic Perspective /	nber w29163 Bureaucracy and Development /	nber w29164 Exchange Rate Volatility and Global Food Supply Chains /	nber w29165 The Elusive Explanation for the Declining Labor Share /	Next

August 2021.

It has been well recognized that population ageing could generate structural changes centered around the dwindling labor force, on one hand, and the expanding dependency on the generosity of the welfare state, on the other hand. Ageing-related welfare state policy entails both fiscal issues and migration issues. The paper employs a general-equilibrium model with a policy-making focus, to help understand the mechanism governing the provision of social benefits, labor income taxation, capital income taxation, migration curbs on low skilled and high skilled, driven by the ageing of the population. Greater generosity of the welfare state comes together with policy of a more liberal migration policy -- incentive compatible with the interests of the majority voters.