Do pensions foster education? An empirical perspective

Do pensions foster education? An empirical perspective
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养老金能促进教育吗?

DOI:
10.1080/00036846.2019.1588949
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发表时间:
2016
期刊:
影响因子:
2.2
通讯作者:
M. Solé
M. Solé
中科院分区:
经济学4区
文献类型:
--
作者:
G. Michailidis;Concepció Patxot;M. Solé

文献摘要

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摘要本文探讨了人口老龄化对公共教育支出的影响。一方面,老龄化预计将对教育产生负面影响,因为退休人员人数的增加会导致“代际冲突”,从而导致对教育支出的谴责。另一方面,老龄化加上现收现付的养恤金制度,促使工作年龄的一代投资于年轻人的公共教育,以便“收获”他们未来更高的生产力带来的好处(即更高的所得税/缴款)。对经合组织国家的面板数据采用固定效应方法得出的经验证据表明,老年人比例的增加对教育支出产生了非线性影响。这表明存在一定程度的代际冲突。然而,我们发现,未来的人口老龄化加强了公共教育和养老金的联系机制,对教育支出产生了积极影响。此外,通过对教育总支出按教育程度进行分解,我们发现,这种影响主要是由非义务教育程度引起的,这可能是与劳动生产率直接相关的一种反映。
ABSTRACT The paper examines the effect of population ageing on public education spending. On the one hand, ageing is expected to have a negative effect on education, as an increasing number of retirees results in ‘intergenerational conflict’ and, hence, the condemnation of education expenditure. On the other hand, ageing, in combination with pay-as-you-go pension systems, offers incentives for the working-age generation to invest in the public education of the young in order to ‘reap’ the benefits (that is, higher income tax/contributions) of their greater future productivity. Empirical evidence derived from the application of a fixed effects approach to panel data for OECD countries shows that the increasing share of elderly people has a non-linear effect on education spending. This indicates a certain degree of intergenerational conflict. Nevertheless, we find that future population ageing, which reinforces the mechanism linking public education and pensions, reflects positively on education expenditure. Furthermore, by disaggregating total education expenditure by educational levels, we observe that this effect is led by levels of non-compulsory education, probably as a reflection of the direct connection to labor productivity.