Population growth and social security financing

By allowing the population growth to be flexible, this paper analyzes the effect of a tax reform that involves an introduction of consumption taxation for social security financing. It is found that population growth and labor supply play an important role in determining the effect of the tax reform. If population growth and labor supply are exogenous, then an introduction of a consumption tax for social security financing, with the payroll tax rate being endogenous, decreases the interest rate and increases capital accumulation. However, if population growth and labor supply are endogenous, then an introduction of a consumption tax for social security financing increases the interest rate and reduces capital accumulation. Received: 26 February 2001/Accepted: 26 August 2001     

Age structure,education, and the transmission of technical change

The significance of deviations from exponential population growth to economic development requires the construction of growth models that explicitly recognize demographic forces as a potential source of nonstationarities. This paper uses an overlapping generations approach to analyze the impact of population aging on technological innovations in the production process. Specifically, it is assumed that a newly invented technology can be used only if the production unit engages human labor that has been trained for this task (labor-embodied technical change). In a model of overlapping generations 1-sector optimal growth, there are 3 basic components: population, education and labor, and production and investment. An individual who has been in school continuously from the time of birth embodies, according to this model, the most up-to-date form of human capital. When the population growth rate is high, technological innovations are achieved largely through the constant influx of recently educated young people into the labor force. However, when population declines lead to a slowing down of this influx, increased adult education is necessary to stimulate the continued introduction of innovations into the productive process. The form of the optimality conditions, the comparative statistics properties, and the form of the nonstationary optimal economic growth path in this model are similar to those in the Van Imhoff model of homogeneous human capital.     

中国人口转变、人口红利与经济增长的实证

我国人口年龄结构的变动使得劳动负担逐渐下降,这对于储蓄水平的上升和劳动力投入效率的提高具有显著的促进作用;我国劳动负担比与经济增长呈现出明显的负相关,劳动负担比每下降1个百分点,经济增长将提高1.06个百分点,在过去的30年里劳动负担降低累计带来的经济增长占总增长的27.23%。通过计量检验证明人口年龄结构变动所产生的促进经济增长的人口红利是存在的。由此我们推断,由于未来的人口年龄结构变动趋向人口老龄化,劳动负担逐步上升,这将会对未来的经济增长造成制约。利用未来10～20年时间较轻的劳动负担的机遇期,我们应当建立良好的教育、人力资本投资、社会保障等方面的制度以及制定积极的人口政策,调整当前生育政策、适时执行宏观经济政策(劳动就业政策)来应对已发生的、正在进行的人口变动,使我国的经济继续保持强有力的增长态势。     

Optimal age of retirement and population growth

The purpose of this paper is to study intergenerational optimal resources sharing when the social planer can choose the retirement age in addition to consumptions and investment. We use the extension of the Diamond analysis by Hu [1979] that incorporates endogenous retirement age. We found that the optimal retirement age is an increasing function of the population growth rate if the elasticity of substitution of old agents' labor for young agents' labor is lower than one. In the millian case, when the size of a population does not matter, and when the elasticity of substitution of old agents' labor for young agents' labor is strictly higher than one, the optimal retirement age is a decreasing function of the population growth rate. In the benthamite case, the change in the optimal retirement age is indeterminate. Received: 19 February 1999/Accepted: 27 February 2001 All correspondence to Bertrand Crettez. We would like to thank Jean-Pierre Vidal for very helpful comments on an earlier draft. An anonymous referee provided insightful comments on a previous version of this paper. Responsible editor: Alessandro Cigno.     

Pay-as-you-go social security and endogenous fertility in a neoclassical growth model

This paper theoretically studies how unfunded pay-as-you-go social security affects economic growth, the fertility rate, and welfare in a neoclassical growth model. In addition, this paper considers a more general form of child-rearing cost, which is a mixture of time and money. The first observation is that whether the fertility rate increases or not by the expansion of the pay-as-you-go social security depends on (1) the size of the monetary child-rearing cost relative to the time spent on child-rearing and (2) the current fertility and interest rate in laissez faire. The second observation is that income per worker can increase by an expansion in pay-as-you-go social security when the output elasticity of capital is sufficiently small and the payroll tax rate is high. The last finding is that welfare can be improved even though capital is underaccumulated in an economy.     

A preliminary inquiry into the interrelationship between population growth and economic development in Hong Kong]

Hong Kong includes Hong Kong Island, Kowloon, New Territory, and more than 230 islands. During World War ii, the population of Hong Kong decreased sharply, and the total number decreased to less than 600,000. Since the war ended in 1945, the population of Hong Kong has been increasing rapidly at an annual rate of 20%. By the end of 1981, its total population had increased to 5.2 million, including 1.25 million newly arrived immigrants. The average age is 24.8. People above the age 65 constitute only 6% of the total population. This shows that there is a sufficient supply of labor for local economic development. Because of continued economic growth, there has been a constant demand for more labor. Low wages provide an excellent condition for high-speed industrial development. An improved quality of professional workers and management personnel also contributes much to Hong Kong's industrial modernization. Because of high employment among the labor population, the general population earns income and spends a great deal, and this has created a rather active economy. General population growth trends include: 1) continued population growth will bring the total population to 6.3 million by the end of 1981, and the housing problem will become more serious; 2) a stable decline in the natural population growth rate will gradually change the population pattern to a low birth, low death, and low natural growth situation; and 3) improvements in science and technology, health care, and living conditions will reduce the death rate, and the average age will lengthen, and with the increase in old people, the demand for social welfare will also increase; and 4) there will be a shortage in experienced labor (professional technicians and high management personnel) in the 1980s. Facing the new situation, Hong Kong's economic structure needs reform, moving from a labor intensive enterprise to a capital-technological intensive enterprise. The market will be expanded and Hong Kong will earn more profit in China's mode rnization process.     

Population growth overshooting and trade in developing countries

This paper examines a developing economy using a family-optimization model in which the number of children is a normal good. Trade liberalization generates two effects: the income effect that increases population growth and the gender wage effect that, in the short run, increases, but, in the long run, decreases population growth. With higher income, families invest more in capital if the status of the capital is significant. Because female labor is complementary to capital, higher investment increases the relative wages of women and attracts them from child rearing into production. Ultimately, the population growth falls below the original level.      

Population aging, health care, and growth: a comment on the effects of capital accumulation

In a recent paper, Hashimoto and Tabata (J Popul Econ 23:571–593, 2010) present a theoretical model in which the increase in the rate of dependence due to aging of the population leads to a reallocation of labor from non-health to health production and, as a consequence, to a decline in economic growth. We argue that these results rely heavily on assumptions of a “small economy” and perfect capital mobility, which tie down the amount of capital. In this paper, we proceed by analyzing the case of an economy in which the availability of capital is endogenously determined by domestic savings. We find that the new “capital accumulation effect” is opposite to the previous “dependency rate effect,” leaving the effect on economic growth ambiguous. In particular, if the former prevailed, population aging would foster economic growth, a result that finds support in recent empirical work.     

构建农村社会保障三项奠基性制度

社会主义市场经济的建立需要健全的社会保障体制作保证,如果占总人口大多数的农村居民得不到保障,中国的社会保障制度就很难称得上完善。在本文中笔者着重探讨了农村最低生活保障制度、农村合作医疗制度以及农村居民养老保障制度,通过对这三项制度的构建基本就构建了中国农村社会保障制度的基础。     

人口转变的储蓄效应和增长效应--论中国增长可持续性的人口因素

人口转变是挑战中国经济持续增长的一个重要因素.在这个过程中,个人的生命周期和代际更替之间的相互叠加,通过劳动供给、储蓄和科技进步等渠道对长期经济增长施加影响.本文分析表明,人口转变使得中国从20世纪60年代中期开始享受人口红利,并一直持续到2015年前后.为了迎接人口老龄化冲击,中国需要通过扩大就业、加快人力资本积累和建立适合于中国国情的可持续的养老保障模式三条途径来充分挖掘未来潜在的人口红利,推动中国经济持续增长.     

生育率最优路径、劳动力供给转型与经济增长

通过内生化劳动力和人力资本,以Q-Q理论为基础,根据生育率在劳动力供给和人力资本积累中的联动关系以及劳动力供给转型规律,利用动态最优控制原理,解释了殖民解放以来发展中国家先上升后下降的人口再生产过程及经济效应。结果表明:生育率的最优路径呈倒U型;整个路径存在两个鞍点均衡,只有当人力资本积累跨越某个门槛值时,第一个鞍点均衡才能过渡到另一个鞍点均衡;均衡的产出水平与劳动力折旧率成正比,与人力资本折旧率成反比。     

中国经济是否已经到达刘易斯拐点--基于边际生产力的实证检验

论文利用第五次和第六次全国人口普查数据,将东部省份作为二元经济理论中工业部门的代表,在运用永续盘存法进行资本存量估计的基础上,应用边际生产力分析法,对中国是否到达刘易斯拐点进行了实证分析。结果发现,工业部门2010年的劳动边际生产力较2000有显著提高,推断出目前中国经济已经超越刘易斯拐点,这意味着我国的劳动力成本优势不在,劳动密集型产业竞争力下降。我国人口红利的逐步消失,除影响经济增长和国内企业的国际竞争力外,还会影响我国社会保障体系的可持续性,因此,加速产业结构升级、提高出生率和适当延长退休年龄,是缓解我国经济发展瓶颈的必要举措。     

Some fundamental problems concerning the relationship between population growth and economic development]

The population growth rate is closely related to the quality of economic life, available funds for individual and social consumption, national income to be used for reproduction, and the labor employment situation. Since liberation, socialism has not been able to show its superiority, mainly because of China's large population figure, low economic productivity, low national income, and poor management in the relationship between consumption and accumulation. In order to solve these problems, we need to adequately control the pace of the population growth and match the rate of population growth with the pace of economic development. A way to increase national income is through saving and avoiding unnecessary waste. Social expenditures on education, culture, science, health and medical care, social welfare, and investment in the promotion of people's wisdom should all be increased. Meanwhile, the living standard of the people needs to be raised, and capital accumulation should also be managed so that funds will be available for industrial and economic enterprises. Existing inefficient production enterprises should be properly reorganized so that full employment may be achieved. In this way, the national economy will have more prosperity, and the people will benefit more from the Socialist policy.     

中国人口劳动参与率与未来劳动力供给分析

对未来劳动力供给进行准确预测判断将有利于我们未来就业政策、现实人口政策和社会保障政策的科学制定,也是对未来人口与经济形势准确判定的依据,是一项非常重要的工作。在充分考虑人口老龄化、劳动参与率年龄模式变动以及受教育水平提高影响的基础上,对未来劳动供给进行预测。预测结果显示,如果不考虑65岁及以上人口的就业,到2016年将达到从业人员的高峰7.58亿,其后持续减少,到2050年前后减少到6.4亿;如果考虑65岁及以上人口的就业,我国的就业高峰将出现在2022年前后,到2045年以后,劳动力供给将大规模减少。届时劳动供养人口将会大大增加,这必须引起当代人在规划人口发展时的重视。     

Physical capital taxation and labor income taxation in an endogenous growth model with new generations

This paper examines the growth and welfare effects of physical capital taxation and labor income taxation. It is found that the impact of a rise in the physical capital tax rate on the balanced growth rate is crucially related to the birth rate, but a rise in the labor income tax rate definitely reduces the balanced growth rate regardless of the birth rate. It is also found that an increase in the physical capital income tax rate will harm the older but will benefit the younger, while an increase in the labor income tax rate will benefit the older but will harm the younger.

中国人口老龄化对经济发展的影响分析

目前我国正处于人口老龄化的初期阶段,人口老龄化给我国的劳动力、消费、储蓄和其他社会问题带来很多负面影响。随着老龄化峰值的到来,其对社会经济的负面影响将进一步显露,我国应该在人口老龄化的初期阶段抓住劳动力资源丰富、社会负担较轻的黄金时期,在人口老龄化峰值来临之前,扬长避短,促进经济的长期增长。     

俄罗斯人口危机的成因及俄学者对中国劳动移民的综合评价

引进外来移民是俄罗斯摆脱人口危机的现实途径之一。对引进中国劳动移民的利弊问题,俄学者对此看法各异,伴随着俄经济形势的好转,大多数俄学者肯定了中国移民对俄罗斯经济发展的作用,并提出形成完善的移民政策、引入适当数量的移民、避免非法移民流入及民族间冲突是解决俄罗斯人口危机和保证国家安全的有效方法。     

Social security,social welfare and the aging population

This study examines the effects of pay-as-you-go social security programs in aging economies when the middle-aged both educate their dependent children and subsidize the retirement of the old. Using an overlapping generations framework in which agents are three-period lived but timing of death in the third period is uncertain, we analyze the effects of social security tax schemes, under various demographic assumptions, on capital accumulation, education expenditures, social welfare, and economic growth. We find that in many cases social security crowds out education, and reduces economic growth and social welfare. Received: 29 April 1998/Accepted: 3 March 1999     

The choice of factor mobility in a dynamic world

This paper compares the steady-state welfare implications of opening a two-country overlapping-generations world to international labor or capital mobility. By capturing the dual nature of labor mobility through the effect of migrants' savings on capital formation, this dynamic setting recovers the asymmetry between capital and labor denied to them in the existing static literature. It is shown that the optimal choice of factor mobility from a national viewpoint depends on the state of the economy with respect to the Golden Rule and on migrants' average savings ratio with respect to that of non-migrants.I would like to thank anonymous referees for useful comments.     

中国未来“第二次人口红利”探讨——基于人口年龄结构与居民储蓄关系的分析

我国人口形势的新变化直接影响未来经济发展的潜力和活力。在人口环境发生剧烈变化的背景下开展关于第二次人口红利的讨论和研究非常必要。本文在以往相关文献的研究基础上,定位分析我国储蓄率的高水平特征,从人口变化、政策、社保等多个角度探讨未来储蓄持续走高的可能性。并利用全国30个省市地区的面板数据重点分析人口结构与居民储蓄之间的关系,发现老年抚养比与居民储蓄之间存在显著的负相关关系。文章得出结论,“第二次人口红利”在我国难以实现,抓紧开发第一次人口红利、拉动经济增长才是我国现阶段社会经济发展的重点。