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Economic Growth and Social Security

Research Project

Project/Area Number 03630006
Research Category

Grant-in-Aid for General Scientific Research (C)

Allocation TypeSingle-year Grants
Research Field 一般理論
Research InstitutionKYOTO UNIVERSITY

Principal Investigator

NISHIMURA Kazuo  Professor Institute of Economic Research Kyoto University, 経済研究所, 教授 (60145654)

Project Period (FY) 1991 – 1992
Project Status Completed (Fiscal Year 1992)
Budget Amount *help
¥1,700,000 (Direct Cost: ¥1,700,000)
Fiscal Year 1992: ¥700,000 (Direct Cost: ¥700,000)
Fiscal Year 1991: ¥1,000,000 (Direct Cost: ¥1,000,000)
KeywordsEndogenous Fertility Rate / Economic Growth / Public Pension / 資本市場 / 経済成長 / 公的年金 / 景気循環 / カオス / 出生率逓減 / 社会保障 / 年金制度
Research Abstract

Exogenous fertility has usually been assumed in models of explaining the existence and effects of pay-as-you-go social security system. We assume that endogenous fertility is allowed in a two overlapping generations simple model with the young caring for the old. The social security level is modeled as a solution of an optimal allocation problem by the government. Social security benefit is assumed to be conditional on individual fertility.We have shown that, although the optimal allocation cannot be achieved in practice, individuals follow the social security level set by the government and reach a sustainable sub-optimal steady state. Furthermore, we have also shown that the sustainable steady state has higher utility than that of the steady state without a social security system.
What is the future of pay-as-you-go public pensions in the face of declining population growth? One common view is pessimistic, in that the future young may choose to shed the burden of a larger and larger number of elderly. However in simple model, which incorporates interactions between endogenous population growth and economic variables,public pensions are themselves a contributing factor to the decline in population growth. In the model, such pensions are sustainable and improve steady state welfare.
These results also provide importanr messages to many developing countries where transfers to the old still occur within families as the major old-age support and over-population is a common problem. Our results imply that moving towards a social security system would be welfare-improving, and would lead to declining fertility. Thus the over-population problem can be solved even with improved welfare on an individual level.

Report

(3 results)
  • 1992 Annual Research Report   Final Research Report Summary
  • 1991 Annual Research Report
  • Research Products

    (21 results)

All Other

All Publications (21 results)

  • [Publications] Kazuo NISIMURA and Uunsen Zhang: "Pay-As-You-Go Public Pension weth Endogenous Fertility" Journal of Public Econmics. 48. 239-258 (1992)

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      1992 Final Research Report Summary
  • [Publications] Kazuo NISHIMURA and Junsen Zhang: "The old-age Security Hypogheses Revisited" Journal of Development Economics.

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      1992 Final Research Report Summary
  • [Publications] Kazuo NISHIMURA and Vigit Kumapongkul: "Economic Growth and Fertility Rate Cycles" Chaox, Solitons and Fractals. 1. 475-484 (1991)

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      1992 Final Research Report Summary
  • [Publications] Kazuo NISHIMURA and Makoto YANO: "Interlinkage in the Endogenaus Peal Business Cycles of International Economies" Economic Theory. 3. 151-168 (1993)

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      1992 Final Research Report Summary
  • [Publications] Kazuo NISHIMURA and Makoto YANO: "Opteimal Chaos,Nonlinearity and Feasibility Conditions" Econmic Theory. (1993)

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      1992 Final Research Report Summary
  • [Publications] 日村 和雄: "内生町出生率と動学モデル" 季刊社会保障研究. 28. 246-251 (1992)

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      1992 Final Research Report Summary
  • [Publications] Kazuo Nishimura and Junsen Zhang: "Pay-As-You-Go Public Pensions with Endogenous Fertility" Journal of Public Economics. Vol.48. 239-258 (1992)

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      1992 Final Research Report Summary
  • [Publications] Kazuo Nishimura and Junsen Zhang: "The Old-age Security Hypothesis Revisited" Journal of Development Economics. (1993)

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      1992 Final Research Report Summary
  • [Publications] Kazuo Nishimura and Vijit Kunapongkul: "Economic Growth and Fertility Rate Cycles" Chaos,Solitons and Fractals. Vol.1. 275-284 (1991)

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      1992 Final Research Report Summary
  • [Publications] Kazuo Nishimura and Makoto Yano: "Interlinkage in the Endogenous Real Business Cycles of International Economies" Economic Theory. Vol.3. 151-168 (1993)

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      1992 Final Research Report Summary
  • [Publications] Kazuo Nishimura and Makoto Yano: "Optimal Chaos,Nonlinearity and Feasibility Conditions" Economic Theory.

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      1992 Final Research Report Summary
  • [Publications] Kazuo Nishimura and Junsen Zhang: "Pay-As-You-Go Public Pension with Endogenous Fertility" Jornal of Public Economics. 48. 239-258 (1992)

    • Related Report
      1992 Annual Research Report
  • [Publications] Kazuo Nishimura and Junsen Zhang: "The Old-age Security Hypothesis Revisited" Journal of Development Economics. (1993)

    • Related Report
      1992 Annual Research Report
  • [Publications] Kazuo Nishimura and Vigit Kunapongkul: "Economic Growth Fertility Rate Cycles" Chaos,Solitons and Fractals. 1. 475-484 (1991)

    • Related Report
      1992 Annual Research Report
  • [Publications] Kazuo Nishimura and Makoto Yano: "Interlinkage inthe Endogenous Real Business Cycles of International Economies" Economic Theory. 3. 151-168 (1993)

    • Related Report
      1992 Annual Research Report
  • [Publications] Kazuo Nishimura and Makoto Yano: "Optimal Chaos,Nonlinearity and Feasibility Conditions"

    • Related Report
      1992 Annual Research Report
  • [Publications] 西村 和雄: "内生的出生率と動学モデル" 季刊社会保障研究. 28. 246-251 (1992)

    • Related Report
      1992 Annual Research Report
  • [Publications] Kazuo Nishimura: "Factor Price Eguahzation" Trade,Policy and International Adjustment. 275-284 (1991)

    • Related Report
      1991 Annual Research Report
  • [Publications] Kazuo Nishimura and Junsen Zhang: "PayーAsーYouーGo Public Pensions with Endogenous Fertility" Journal of Public Economics. (1992)

    • Related Report
      1991 Annual Research Report
  • [Publications] Kazuo Nishimura and Vijit Kunapongkul: "Economic Growth and Fertility Rate Cycles" Chaos,Solitons and Fractals. 1. (1992)

    • Related Report
      1991 Annual Research Report
  • [Publications] Kazuo Nishimura and Makoto Yano: "Interlinkage in the Endogenous Real Business Cycles of International Economies" Economic Theory. (1992)

    • Related Report
      1991 Annual Research Report

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Published: 1991-04-01   Modified: 2016-04-21  

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