Dans cet article, nous considerons un modele a generations imbriquees avec fecondite endogene. Les enfants entrent dans la fonction d'utilite de leurs parents et engendrent deux types de couts : un cout fixe par enfant, et un cout en temps. Deux instruments de politiques economiques sont consideres : un systeme de retraites par repartition, et un systeme d'allocations familiales.
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