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Optimal population growth and social security reform with heterogeneous agents

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Author Info
ABIO, G.
PATXOT, C.

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Abstract

In this paper we propose a pension policy that would isolate the social security system from any financial crisis resulting from changes in population structure. This policy consists of linking social security benefits to the fertility behaviour of the individual. We present a theoretical analysis to show that this policy restores the optimality of the capital-labour ratio and the population growth rate in an overlapping-generations model with endogenous fertility. We extend this analysis to the case of heterogeneous agents with respect to their preferences towards children.

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Publisher Info
Paper provided by Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) in its series CORE Discussion Papers with number 2001027.

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Date of creation: 01 May 2001
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Handle: RePEc:cor:louvco:2001027

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Related research
Keywords: pay-as-you-go social security system; overlapping-generations model; endogenous fertility; heterogeneous agents; optimal population growth;

Find related papers by JEL classification:
H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
J13 - Labor and Demographic Economics - - Demographic Economics - - - Fertility; Family Planning; Child Care; Children; Youth
J18 - Labor and Demographic Economics - - Demographic Economics - - - Public Policy

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Hans-Werner Sinn, 1997. "The Value of Children and Immigrants in a Pay-As-You-Go Pension System: A Proposal for a Partial Transition to a Funded System," NBER Working Papers 6229, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  2. Michel, Philippe & Pestieau, P, 1993. "Population Growth and Optimality: When Does Serendipity Hold?," Journal of Population Economics, Springer, vol. 6(4), pages 353-62, November.
  3. Bental, Benjamin, 1989. "The Old Age Security Hypothesis and Optimal Population Growth," Journal of Population Economics, Springer, vol. 1(4), pages 285-301.
  4. Eckstein, Zvi & Wolpin, Kenneth I., 1985. "Endogenous fertility and optimal population size," Journal of Public Economics, Elsevier, vol. 27(1), pages 93-106, June. [Downloadable!] (restricted)
  5. Samuelson, Paul A, 1975. "The Optimum Growth Rate for Population," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 16(3), pages 531-38, October. [Downloadable!] (restricted)
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(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Gemma Abio Roig, 2003. "Interiority of the Optimal Population Growth Rate with Endogenous Fertility," Working Papers in Economics 96, Universitat de Barcelona. Espai de Recerca en Economia. [Downloadable!]
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This page was last updated on 2009-11-19.

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