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Ageing and Welfare-State Policy Making: Macroeconomic Perspective

Author

Listed:
  • Assaf Razin
  • Alexander Horst Schwemmer

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.

Suggested Citation

  • Assaf Razin & Alexander Horst Schwemmer, 2021. "Ageing and Welfare-State Policy Making: Macroeconomic Perspective," NBER Working Papers 29162, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:29162
    Note: IFM
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    JEL classification:

    • F3 - International Economics - - International Finance
    • H0 - Public Economics - - General

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