タイトル(掲載誌)Discussion Papers In Economics And Business
一般注記* Revised: [10-04, 2010]
Countries with higher implicit taxes on continued work are associated with lowerlabor force participation rates of the elderly. This paper constructs a politicoeconomicmodel that accounts for this feature based on multiple, self-fulfilling expectationsof agents. In this model, agents are identical at birth and can becomeskilled (or remain unskilled) through educational investment. When agents holdexpectations of larger social security benefits, it provides a disincentive to engagein educational investment, thereby resulting in an unskilled majority. In turn, thisunskilled majority supports larger social security benefits, which induces the retirementof the elderly and thus results in a lower labor force participation rate. Theopposite applies when agents have expectations of smaller social security benefitsin their old age.
連携機関・データベース国立情報学研究所 : 学術機関リポジトリデータベース(IRDB)(機関リポジトリ)