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The viability of a voting system that allocates parliamentary seats according to life expectancy: An analysis using OLG models
- Source :
- Japan and the World Economy. 47:51-57
- Publication Year :
- 2018
- Publisher :
- Elsevier BV, 2018.
-
Abstract
- This paper constructs an overlapping generations model in order to demonstrate low political intervention and interaction in the working and retired generations affect the allocation rate in future growth-stimulating public investment and the public pension. It also analyzes the possibility of moving to a voting system that allocates parliamentary seats according to life expectancy. The presented results suggest the following three main findings. Firstly, the voting system is important when population demographics change. Declining birthrates and an aging population may shorten the temporal perspective for policymaking over time. Any theoretical transition from the current voting system to a voting system that allocates parliamentary seats according to life expectancy would thus lengthen the temporal perspective for policymaking, potentially increasing the public investment rate and improving the utilities of the working and future generations. Secondly, when age-based voting turnout disparity is high, the shift from the current voting system to one based on life expectancy and region or life expectancy and age is possible. Thirdly, if both transitions from the current system are possible, moving to the latter would offer greater possibility for increasing the utilities of the working generation and future generations than moving to the former.
- Subjects :
- Economics and Econometrics
Population ageing
media_common.quotation_subject
jel:H60
Overlapping generations model
Affect (psychology)
jel:O20
Politics
Voting
0502 economics and business
Economics
050207 economics
050205 econometrics
media_common
Actuarial science
jel:D90
05 social sciences
Turnout
jel:H50
Intervention (law)
jel:J18
Political Science and International Relations
Life expectancy
Demographic economics
Public investment, Public pension, OLG model, Generational-based constituency bloc, Demeny voting system, Life expectancy
Finance
Subjects
Details
- ISSN :
- 09221425
- Volume :
- 47
- Database :
- OpenAIRE
- Journal :
- Japan and the World Economy
- Accession number :
- edsair.doi.dedup.....e5dc57f1185e5cd12b1fb06d0bdb6702