Arbeitspapier
Over-aging: Are present human populations too old?
This paper investigates the problem of an \optimum population" concerning age structures in a 3-period OLG-model with endogenous fertility and longevity. The first-best solution for a number-dampened total social welfare function, including Millian and Benthamite utilitarianism as two extreme cases, identifies the optimal age structure, generally failed in the laissez-faire economy. Individuals over-invest in health expenditures and choose a non-optimal number of offspring. A calibration exercise for 80 countries emphasizes that mean ages in the optimal solution with the highest feasible individual utility exceed the observed in all countries, especially due to a very low first-best number of children. Introducing a preference for the population stock in the social welfare function increases fertility, but reduces individual utility, in the first-best solution. Optimal mean age shrinks and an over-aging of the laissez-faire economy becomes more likely. To decentralize first-best solutions health expenditures are taxed, whereas children are either taxed or subsided.
- Sprache
-
Englisch
- Erschienen in
-
Series: Thünen-Series of Applied Economic Theory - Working Paper ; No. 137
- Klassifikation
-
Wirtschaft
Taxation, Subsidies, and Revenue: General
Health: General
Demographic Economics: Public Policy
- Thema
-
endogenous fertility
adult mortality
optimal age structure
over-aging
optimal taxation
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Stelter, Robert
- Ereignis
-
Veröffentlichung
- (wer)
-
Universität Rostock, Institut für Volkswirtschaftslehre
- (wo)
-
Rostock
- (wann)
-
2014
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:46 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Stelter, Robert
- Universität Rostock, Institut für Volkswirtschaftslehre
Entstanden
- 2014
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