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Birth, death and taxes.

A B Abel

    Journal of Public Economics
    |June 1, 1989
    PubMed
    Summary
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    Blastocystis hominis as a cause of hypoalbuminemia and anasarca.

    European journal of clinical microbiology & infectious diseases : official publication of the European Society of Clinical Microbiologyยท2004
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    This study examines lump-sum tax policy effects in an overlapping generations model with uncertain longevity. Debt neutrality depends on insurance fairness and parental altruism, impacting economic policy.

    Area of Science:

    • Economics
    • Public Finance
    • Mathematical Economics

    Background:

    • Overlapping generations models are crucial for analyzing long-term economic effects.
    • Uncertainty in consumer longevity significantly impacts savings and tax policy effectiveness.
    • Existing research often simplifies insurance market assumptions.

    Purpose of the Study:

    • To analyze the effects of lump-sum tax policy within an overlapping generations model with uncertain longevity.
    • To extend previous analyses by incorporating actuarially unfair private insurance.
    • To derive a general condition for debt neutrality under varying insurance scenarios.

    Main Methods:

    • Utilized an overlapping generations economic model.
    • Incorporated consumer longevity uncertainty.
    Keywords:
    AmericasDemographic FactorsDeveloped CountriesEconomic FactorsFinancial ActivitiesIncomeIncome DistributionIntergenerational TransfersLength Of LifeMicroeconomic FactorsModels, TheoreticalMortalityNorth AmericaNorthern AmericaPolicyPopulationPopulation DynamicsResearch MethodologySocioeconomic FactorsTaxationUnited States

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  • Analyzed scenarios with actuarially unfair insurance, actuarially fair insurance, and no insurance.

    • Main Results:

    • Derived a general condition for debt neutrality.
    • Demonstrated that debt neutrality is explicitly dependent on the degree of actuarial unfairness in insurance.
    • Showed the condition also depends on the extent of parental altruism (care for children's utility).

    Conclusions:

    • Lump-sum tax policy effectiveness is sensitive to insurance market structure and intergenerational preferences.
    • The findings provide a more nuanced understanding of fiscal policy in economies with longevity risk.
    • Policy implications are significant for governments designing tax and social insurance systems.