中国社会保障改革外文文献Intergenerational transfers and China’s social security reform.pdfVIP

The Journal of the Economics of Ageing 11 (2018) 62–70 Contents lists available at ScienceDirect The Journal of the Economics of Ageing journal homepage: www.else /locate/jeoa Full length article Intergenerational transfers and China’s social security reform _ ˘ a,⇑ b Ayse Imrohoroglu , Kai Zhao a Department of Finance and Business Economics, Marshall School of Business, University of Southern California, Los Angeles, CA 90089-0808, United States b Department of Economics, The University of Connecticut, Storrs, CT 06269-1063, United States a r t i c l e i n f o a b s t r a c t Article history: Most of the studies examining the implications of social security reforms in China use overlapping gen- Available online 23 January 2017 erations models and abstract from the role of family support. However, in China, family support plays a prominent role in the well-being of the elderly and often substitutes for the lack of government-provided old-age support systems. In this paper, we investigate the impact of social security reform in China in a model with two-sided altruism as well as a pure life-cycle model. We show that the quantitative impli- cations of social security reform, in particular for capital accumulation and output, are very different across the two models.