On the effects of public and private transfers on capital accumulation: some lessons from the NTA aggregates

被引:14
|
作者
Sanchez-Romero, Miguel [1 ]
Patxot, Concepcio [2 ,3 ]
Renteria, Elisenda [4 ]
Souto, Guadalupe [5 ]
机构
[1] Max Planck Inst Demog Res, D-18057 Rostock, Germany
[2] Univ Barcelona, CAEPS, Barcelona, Spain
[3] Inst Estudios Fiscales, Barcelona, Spain
[4] Univ Fed Minas Gerais, Belo Horizonte, MG, Brazil
[5] Univ Autonoma Barcelona, Dept Econ Aplicada, E-08193 Barcelona, Spain
关键词
Second demographic dividend; Transfers; Computable general equilibrium; DEMOGRAPHIC-STRUCTURE; RETIREMENT; REFORM;
D O I
10.1007/s00148-012-0422-z
中图分类号
C921 [人口统计学];
学科分类号
摘要
Intergenerational transfers are a very important part of our daily economic activity. These transfers, whether familial or public, may influence our economic decisions to the same extent that financial markets do. In this paper, we seek to shed some light on the effects of transfers on capital accumulation in the face of demographic aging. In particular, a general equilibrium overlapping generations model with realistic public and familial transfers drawn from the National Transfer Accounts project is implemented to Spain. Given that, in this case, net familial transfers mainly go from parents to children while public transfers go from children to parents, it is shown that the Spanish baby boom and baby bust could lead to capital depletion and a reduction in consumption per capita.
引用
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页码:1409 / 1430
页数:22
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