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Intergenerational transfers of time and public long-term care with an aging population

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  • Mizushima, Atsue

Abstract

Although a large number of studies have been done on intergenerational transfers of goods, little is known about intergenerational transfers of time. In step with an increase in the aging of the population, the demand for time-intensive transfers in health care and other health services increases. Using an overlapping generations model which incorporates uncertain longevity, we set up a model which incorporates intergenerational transfers of time and examine the macroeconomic effect of public long-term care policy (LTC). Using the model, we show that LTC decreases the steady state level of capital stock, but that it enhances the welfare level in an aging economy, when the rate of tax is sufficiently small.

Suggested Citation

  • Mizushima, Atsue, 2009. "Intergenerational transfers of time and public long-term care with an aging population," Journal of Macroeconomics, Elsevier, vol. 31(4), pages 572-581, December.
    • Handle: RePEc:eee:jmacro:v:31:y:2009:i:4:p:572-581
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    3. Yasuoka, Masaya, 2020. "Subsidies for elderly care with a pay-as-you-go pension," The Journal of the Economics of Ageing, Elsevier, vol. 17(C).
    4. Masaya Yasuoka, 2019. "Should Public Elderly Care Be Provided?," Economics Bulletin, AccessEcon, vol. 39(1), pages 564-570.
    5. Masaya Yasuoka, 2019. "Elderly care service in an aging society," Journal of Economic Studies, Emerald Group Publishing Limited, vol. 46(1), pages 18-34, January.
    6. Zouhair Aït Benhamou & Lesly Cassin, 2018. "The effects of migration and remittances on development and capital in Caribbean Small Island Developing States," EconomiX Working Papers 2018-41, University of Paris Nanterre, EconomiX.
    7. Ken Tabata, 2015. "Population Aging and Growth: The Effect of Pay-as-You-Go Pension Reform," FinanzArchiv: Public Finance Analysis, Mohr Siebeck, Tübingen, vol. 71(3), pages 385-406, September.
    8. Yakita, Akira, 2023. "Elderly long-term care policy and sandwich caregivers’ time allocation between child-rearing and market labor," Japan and the World Economy, Elsevier, vol. 65(C).
    9. OGURO Kazumasa & ISHIDA Ryo & YASUOKA Masaya, 2020. "Elderly Care Supply Systems and Services which Decrease Elderly Care Requirements," Discussion papers 20020, Research Institute of Economy, Trade and Industry (RIETI).
    10. Masaya Yasuoka, 2013. "Subsidies for Elderly Care in Pay-As-You-Go Pension," Discussion Paper Series 109, School of Economics, Kwansei Gakuin University, revised Sep 2013.
    11. Masaya Yasuoka, 2014. "Financing Elderly Care Service Subsidies horizontally differentiated duopoly," Discussion Paper Series 122, School of Economics, Kwansei Gakuin University, revised Oct 2014.
    12. Miyake, Atsushi & Shintani, Masaya & Yasuoka, Masaya, 2021. "Elderly Care and Informal Family Care," MPRA Paper 110126, University Library of Munich, Germany.
    13. Shin, Inyong, 2013. "The Effect of Compressed Demographic Transition and Demographic Gift on Economic Growth," MPRA Paper 45003, University Library of Munich, Germany.
    14. Atsushi Miyake & Masaya Yasuoka, 2016. "Which Should the Government Subsidize: Child Care or Elderly Care?," Discussion Paper Series 144, School of Economics, Kwansei Gakuin University, revised Jun 2016.

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    More about this item

    Keywords

    Time transfers Household production Overlapping generations model;

    JEL classification:

    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • I12 - Health, Education, and Welfare - - Health - - - Health Behavior
    • J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
    • J22 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Time Allocation and Labor Supply

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