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    Rights statement: This is the author’s version of a work that was accepted for publication in Journal of Economic Dynamics and Control. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Journal of Economic Dynamics and Control, 61, 2015 DOI:10.1016/j.jedc.2015.09.007

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Fiscal policy effects in a heterogeneous-agent OLG economy with an aging population

Research output: Contribution to Journal/Magazine › Journal article › peer-review

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Fiscal policy effects in a heterogeneous-agent OLG economy with an aging population. / Nishiyama, Shinichi.
In: Journal of Economic Dynamics and Control, Vol. 61, 12.2015, p. 114-132.

Research output: Contribution to Journal/Magazine › Journal article › peer-review

Harvard

Nishiyama, S 2015, 'Fiscal policy effects in a heterogeneous-agent OLG economy with an aging population', Journal of Economic Dynamics and Control, vol. 61, pp. 114-132. https://doi.org/10.1016/j.jedc.2015.09.007

APA

Nishiyama, S. (2015). Fiscal policy effects in a heterogeneous-agent OLG economy with an aging population. Journal of Economic Dynamics and Control, 61, 114-132. https://doi.org/10.1016/j.jedc.2015.09.007

Vancouver

Nishiyama S. Fiscal policy effects in a heterogeneous-agent OLG economy with an aging population. Journal of Economic Dynamics and Control. 2015 Dec;61:114-132. Epub 2015 Sept 25. doi: 10.1016/j.jedc.2015.09.007

Author

Nishiyama, Shinichi. / Fiscal policy effects in a heterogeneous-agent OLG economy with an aging population. In: Journal of Economic Dynamics and Control. 2015 ; Vol. 61. pp. 114-132.

Bibtex

@article{190e76ba5a6146cb9c29f8d192d4b6b0,
title = "Fiscal policy effects in a heterogeneous-agent OLG economy with an aging population",
abstract = "This paper incorporates the aging population projected by the U.S. Social Security Administration to a heterogeneous-agent OLG model with idiosyncratic wage shocks and analyzes its effects on individual households, the government budget, and the overall economy. The fiscal gap caused by the demographic change is 2.92% of GDP under the SSA's intermediate projection. The effect of the aging population is large by itself and depends significantly on how the government finances the cost of the demographic change. There is a strong trade-off between efficiency and equity, and this paper quantitatively assesses the pros and cons of stylized fiscal reform plans.",
author = "Shinichi Nishiyama",
note = "This is the author{\textquoteright}s version of a work that was accepted for publication in Journal of Economic Dynamics and Control. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Journal of Economic Dynamics and Control, 61, 2015 DOI:10.1016/j.jedc.2015.09.007",
year = "2015",
month = dec,
doi = "10.1016/j.jedc.2015.09.007",
language = "English",
volume = "61",
pages = "114--132",
journal = "Journal of Economic Dynamics and Control",
issn = "0165-1889",
publisher = "Elsevier",

}

RIS

TY - JOUR

T1 - Fiscal policy effects in a heterogeneous-agent OLG economy with an aging population

AU - Nishiyama, Shinichi

N1 - This is the author’s version of a work that was accepted for publication in Journal of Economic Dynamics and Control. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Journal of Economic Dynamics and Control, 61, 2015 DOI:10.1016/j.jedc.2015.09.007

PY - 2015/12

Y1 - 2015/12

N2 - This paper incorporates the aging population projected by the U.S. Social Security Administration to a heterogeneous-agent OLG model with idiosyncratic wage shocks and analyzes its effects on individual households, the government budget, and the overall economy. The fiscal gap caused by the demographic change is 2.92% of GDP under the SSA's intermediate projection. The effect of the aging population is large by itself and depends significantly on how the government finances the cost of the demographic change. There is a strong trade-off between efficiency and equity, and this paper quantitatively assesses the pros and cons of stylized fiscal reform plans.

AB - This paper incorporates the aging population projected by the U.S. Social Security Administration to a heterogeneous-agent OLG model with idiosyncratic wage shocks and analyzes its effects on individual households, the government budget, and the overall economy. The fiscal gap caused by the demographic change is 2.92% of GDP under the SSA's intermediate projection. The effect of the aging population is large by itself and depends significantly on how the government finances the cost of the demographic change. There is a strong trade-off between efficiency and equity, and this paper quantitatively assesses the pros and cons of stylized fiscal reform plans.

U2 - 10.1016/j.jedc.2015.09.007

DO - 10.1016/j.jedc.2015.09.007

M3 - Journal article

VL - 61

SP - 114

EP - 132

JO - Journal of Economic Dynamics and Control

JF - Journal of Economic Dynamics and Control

SN - 0165-1889

ER -