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Child Benefit and Fiscal Burden with Endogenous Fertility

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  • Oguro, Kazumasa
  • Takahata, Junichiro

Abstract

This paper studies a possibility of efficiency improvement by child benefit programs in an overlapping generations economy with endogenous fertility and government debt. We derive conditions for improving an efficiency by child benefit using Representative-Consumer efficiency (RC-efficiency), an efficiency criterion for an endogenous fertility setting developed by Michel and Wigniolle (2007). It is shown that the result crucially depends on the relative amount of accumulated government debt in the economy. It is likely to hold in an economy of developed countries with a low fertility rate. We provide an implication of the results in the real economy.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 15378.

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Date of creation: Apr 2009
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Handle: RePEc:pra:mprapa:15378

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Keywords: Endogenous fertility; Pareto-efficiency; child benefit; fiscal burden;

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  1. Gary S. Becker & Robert J. Barro, 1986. "A Reformulation of the Economic Theory of Fertility," NBER Working Papers 1793, National Bureau of Economic Research, Inc.
  2. Willis, Robert J, 1973. "A New Approach to the Economic Theory of Fertility Behavior," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 81(2), pages S14-64, Part II, .
  3. Eckstein, Zvi & Wolpin, Kenneth I., 1985. "Endogenous fertility and optimal population size," Journal of Public Economics, Elsevier, vol. 27(1), pages 93-106, June.
  4. Mikhail Golosov & Larry E. Jones & Michèle Tertilt, 2006. "Efficiency with Endogenous Population Growth," Discussion Papers, Stanford Institute for Economic Policy Research 05-012, Stanford Institute for Economic Policy Research.
  5. Andrew Abel & Gregory N. Mankiw & Lawrence H. Summers & Richard Zeckhauser, . "Assessing Dynamic Efficiency: Theory and Evidence," Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research 14-88, Wharton School Rodney L. White Center for Financial Research.
  6. Philippe Michel & Bertrand Wigniolle, 2007. "On Efficient Child Making," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00185259, HAL.
  7. Raut, L K & Srinivasan, T N, 1994. "Dynamics of Endogenous Growth," Economic Theory, Springer, vol. 4(5), pages 777-90, August.
  8. Nishimura, Kazuo & Zhang, Junsen, 1992. "Pay-as-you-go public pensions with endogenous fertility," Journal of Public Economics, Elsevier, vol. 48(2), pages 239-258, July.
  9. Rupa Chakrabarti, 1999. "Endogenous fertility and growth in a model with old age support," Economic Theory, Springer, vol. 13(2), pages 393-416.
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Cited by:
  1. Kazumasa, Oguro & Junichiro, Takahata & Manabu, Shimasawa, 2009. "Child Benefit and Fiscal Burden: OLG Model with Endogenous Fertility," MPRA Paper 16132, University Library of Munich, Germany.

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