Fertility, Dependency and Social Security
AbstractA subject of considerable policy concern is the problem presented by declining fertility rates for social security systems in general and Pay-As-You-Go pension schemes in particular. Solutions proposed range from complete privatisation of the pensions system, through supplementary private tax-advantaged savings schemes, to "parametric reform" of the existing schemes, involving increases in contribution rates and retirement ages, and reductions in the real value of benefit levels. This paper argues that the sense of crisis generated by looking only at the Aged Dependency Ratio is exaggerated. Moreover, we should look at what appears to be the root cause of the problem, the apparently inverse relationship between female labour force participation and fertility. A solution to the problem can be found in policies that allow an increase in female labour supply and fertility simultaneously.
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Bibliographic InfoPaper provided by Centre for Economic Policy Research, Research School of Economics, Australian National University in its series CEPR Discussion Papers with number 462.
Length: 24 pages
Date of creation: Mar 2003
Date of revision:
Other versions of this item:
- I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs
- J12 - Labor and Demographic Economics - - Demographic Economics - - - Marriage; Marital Dissolution; Family Structure
- J13 - Labor and Demographic Economics - - Demographic Economics - - - Fertility; Family Planning; Child Care; Children; Youth
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