* Revised： [14-37, 2014]* Revised： [14-37-Rev., 2015

Ono, Tetsuo

Uchida, Yuki

This study presents an overlapping generations model to capture the nature of the competition between generations regarding two redistribution policies, public education and public pensions. From a political economy viewpoint, we investigate the effects of population aging on these policies and economic growth. We show that greater longevity results in a higher pension-to-GDP ratio. However, an increase in longevity produces an initial increase followed by a decrease in the public education-to-GDP ratio. This, in turn, results in a hump-shaped pattern of the growth rate.* Revised： [14-37, 2014]* Revised： [14-37-Rev., 2015

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Pensions, Education, and Growth : A Positive Analysis

http://www2.econ.osaka-u.ac.jp/library/global/dp/1437R2.pdf

Pensions, Education, and Growth : A Positive Analysis

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