Is an unfunded social security system good or bad for growth? A theoretical analysis of social security systems financed by VAT.
Is an unfunded social security system good or bad for growth? A theoretical analysis of social security systems financed by VAT.
复制标题
缺乏资金支持的社会保障体系对于经济增长是有利还是不利？
DOI：
10.1111/jpet.12403
复制
发表时间：
2019
影响因子：
1.1
通讯作者：
Noritaka Maebayashi
中科院分区：
文献类型：
--
作者：
Kanazashi M;Tanaka M;Nakanishi R;Maeshige N;Fujino H.;Noritaka Maebayashi
本研究探讨了在日本讨论的由增值税（VAT）资助的无基金公共养老金如何影响经济增长，以及工资税（PT）或增值税是否是为公共养老金提供资金的更有利于增长的税收结构。我们研究这些问题，使用重叠世代模型与父母利他主义，并发现，由增值税资助的公共养老金制度可能会增加经济增长时，遗赠是有效的。相比之下，当遗赠被剥夺时，公共养老金会阻碍增长，除非代理人有足够的耐心。最后，由增值税资助的公共养老金比由PT资助的养老金更有利于增长。
This study investigates how unfunded public pensions financed by value added tax (VAT), as discussed in Japan, affect economic growth and whether payroll tax (PT) or VAT is the more growth‐friendly tax structure for financing public pensions. We examine these issues using overlapping generations models with parental altruism and find that a public pension system financed by VAT may increase economic growth when bequests are operative. By contrast, when bequests are inoperative, public pensions hinder growth unless agents are sufficiently patient. Finally, public pensions financed by VAT are more growth‐friendly than those financed by PT.