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GTAP Resource #6336

"To Have and Have Not - Evaluating the costs and benefits of the welfare state with an AGE model of Finland with Intergenerational Accounting"
by Honkatukia, Juha and Risto Vaittinen

The aging of the population affects most European economies and challenges the sustainability of public funding in many of them. Aging constitutes a twin problem for the economy, as taking care of the growing elderly population ties up more labour in the care sectors while at the same time crowding out other service and manufacturing sectors. The problem is most visible in countries, where these services are publicly provided and funded, such as the Nordic countries, where aging translates into increasing tax burdens shouldered by the progressively smaller working age cohorts. Thus, while the provision of universally available health care is very much at the heart of the Nordic welfare state, the uncertainties of the benefits of the welfare state of the future combined with the present-day certainties of having to face the bill may be undermining the legitimacy of the Nordic model in the eyes of younger generations. The alternative would be a more market-driven provision of welfare services. Whether and how this would beneficial has not been studied. In the current study, we consider the economics of these inter-generational issues. In particular, we model the inter-generational distribution of the benefits of public health and social care provision and the burden of its financing.

Resource Details (Export Citation) GTAP Keywords
Category: 2021 Conference Paper
Status: Not published
By/In: Presented during the 24th Annual Conference on Global Economic Analysis (Virtual Conference)
Date: 2021
Created: Honkatukia, J. (4/15/2021)
Updated: Honkatukia, J. (6/22/2021)
Visits: 768
- Dynamic modeling
- Demographics
- Economic growth
- Health
- Europe (Northern)

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