Intergenerational policies, public debt, and economic growth : a politico-economic analysis

Arai, Real; Naito, Katsuyuki; Ono, Tetsuo

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論文情報

タイトル	Intergenerational policies, public debt, and economic growth : a politico-economic analysis
著者	Arai, Real Arai, Real
	Naito, Katsuyuki Naito, Katsuyuki
	Ono, Tetsuo Ono, Tetsuo
キーワード等	public debt
	probabilistic voting
	Markov perfect equilibrium
	economic growth
抄録	This study presents a two-period overlapping-generations model with endogenous growth. In each period, the government representing young and old generations provides a public good financed by labor income taxation and public debt issuance, and the government's policies are determined by probabilistic voting. Increased political power of the old lowers economic growth. A debt-ceiling rule is considered to resolve the negative growth effect, but it creates a trade-off between generations in terms of welfare.
公開者	Graduate School of Economics and Osaka School of International Public Policy (OSIPP) Osaka University
掲載誌名	Discussion Papers In Economics And Business
巻	18-12
開始ページ	1
終了ページ	3
刊行年月	2018-04
URL	http://hdl.handle.net/11094/68316
関連情報 (references)	http://www2.econ.osaka-u.ac.jp/library/global/dp/1812.pdf
言語	英語
カテゴリ	ディスカッション／ワーキング・ペーパー DP/WP

著者版フラグ	none
NII資源タイプ	テクニカルレポート
ローカル資源タイプ	ディスカッション／ワーキング・ペーパー
dcmi資源タイプ	text
DCTERMS.bibliographicCitation	Discussion Papers In Economics And Business.18-12 P.1-P.3
DC.title	Intergenerational policies, public debt, and economic growth : a politico-economic analysis
DC.creator	Arai, Real
	Naito, Katsuyuki
	Ono, Tetsuo
DC.publisher	Graduate School of Economics and Osaka School of International Public Policy (OSIPP) Osaka University
DC.language" scheme="DCTERMS.RFC1766	英語
DCTERMS.issued" scheme="DCTERMS.W3CDTF	2018-04
DC.identifier" scheme="DCTERMS.URI	http://hdl.handle.net/11094/68316
DC.subject	public debt
	probabilistic voting
	Markov perfect equilibrium
	economic growth
DCTERMS.abstract	This study presents a two-period overlapping-generations model with endogenous growth. In each period, the government representing young and old generations provides a public good financed by labor income taxation and public debt issuance, and the government's policies are determined by probabilistic voting. Increased political power of the old lowers economic growth. A debt-ceiling rule is considered to resolve the negative growth effect, but it creates a trade-off between generations in terms of welfare.
citation_title	Intergenerational policies, public debt, and economic growth : a politico-economic analysis
citation_author	Arai, Real
	Naito, Katsuyuki
	Ono, Tetsuo
citation_publisher	Graduate School of Economics and Osaka School of International Public Policy (OSIPP) Osaka University
citation_language	英語
citation_date	2018-04
citation_journal_title	Discussion Papers In Economics And Business
citation_volume	18-12
citation_firstpage	1
citation_lastpage	3
citation_public_url	http://hdl.handle.net/11094/68316
citation_keywords	public debt
	probabilistic voting
	Markov perfect equilibrium
	economic growth

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