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On the interaction between education and social security

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  • Rojas, Juan A.
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    Abstract

    This paper uses an overlapping generations model with endogenous fertility choices to analyze the quantitative costs and benefits of subsidizing higher education, paying particular attention to the interaction between such policy and the sustainability of the social security system. The paper focuses on the demographic change as the mechanism that link both policies. It is found that an increase in education subsidies changes the educational composition of the population and lowers average fertility. Lower average fertility and higher life expectancy of educated individuals translates into changes in the age structure of the population that requires an increase in the social security tax rate in order to balance the pension budget. Such process reduces the welfare benefits of this educational policy since the rise in social security taxes lowers the after-tax lifetime earnings of almost all individuals born in the period of the policy reform and over.

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    File URL: http://e-archivo.uc3m.es/bitstream/10016/294/1/we033612.pdf
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    Bibliographic Info

    Paper provided by Universidad Carlos III de Madrid in its series Open Access publications from Universidad Carlos III de Madrid with number info:hdl:10016/294.

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    Handle: RePEc:ner:carlos:info:hdl:10016/294

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    3. Herranz, Neus & Mora, Ricardo & Ruiz-Castillo, Javier, 2005. "An algorithm to reduce the occupational space in gender segregation studies," Open Access publications from Universidad Carlos III de Madrid info:hdl:10016/4744, Universidad Carlos III de Madrid.
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    7. Ricardo Mora & Javier Ruiz-Castillo, 2003. "An Evaluation Of An Entropy Based Index Of Segregation," Economics Working Papers we034014, Universidad Carlos III, Departamento de Economía.
    8. Victor R. Fuchs, 1975. "A Note on Sex Segregation in Professional Occupations," NBER Chapters, in: Explorations in Economic Research, Volume 2, number 1, pages 105-111 National Bureau of Economic Research, Inc.
    9. Karmel, T & Maclachlan, M, 1988. "Occupational Sex Segregation--Increasing or Decreasing?," The Economic Record, The Economic Society of Australia, vol. 64(186), pages 187-95, September.
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    11. Silber, Jacques, 1989. "Factor Components, Population Subgroups and the Computation of the Gini Index of Inequality," The Review of Economics and Statistics, MIT Press, vol. 71(1), pages 107-15, February.
    12. Francine D. Blau & Patricia Simpson & Deborah Anderson, 1998. "Continuing Progress? Trends in Occupational Segregation in the United States Over the 1970s and 1980s," NBER Working Papers 6716, National Bureau of Economic Research, Inc.
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