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Social security family finance and demography

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  • Jellal, Mohamed
  • Bouzahzah, Mohamed

Abstract

In this paper we analyzed a model of endogenous fertility in presence of f financial market assets and social security pensions. Given the children externality and in the absence of corrective policy, the fertility rate chosen in market economy is too low. Indeed, in his optimal choice of family size, the representative household does not take into account of this children externality which leads to a sub optimal demography. We have shown that an optimal demographic allocation exists and can be implemented through a subvention taxation policy if it is available

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 38793.

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Date of creation: 2012
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Handle: RePEc:pra:mprapa:38793

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Keywords: Fertility; social security; family transfers; financial market; taxation policy;

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  1. Alessandro Cigno & Martin Werding, 2007. "Children and Pensions," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262033690, December.
  2. Michele Boldrin & Mariacristina De Nardi & Larry E. Jones, 2005. "Fertility and Social Security," NBER Working Papers 11146, National Bureau of Economic Research, Inc.
  3. Jellal, Mohamed & Wolff, Francois-Charles, 2000. "Shaping intergenerational relationships: the demonstration effect," Economics Letters, Elsevier, Elsevier, vol. 68(3), pages 255-261, September.
  4. Jellal, Mohamed & Wolff, Francois-Charles, 2002. "Cultural evolutionary altruism: theory and evidence," European Journal of Political Economy, Elsevier, vol. 18(2), pages 241-262, June.
  5. Mohamed Jellal & Francois-Charles Wolff, 2002. "Insecure old-age security," Oxford Economic Papers, Oxford University Press, vol. 54(4), pages 636-648, October.
  6. Junsen Zhang & Junxi Zhang, 1998. "Social Security, Intergenerational Transfers, and Endogenous Growth," Canadian Journal of Economics, Canadian Economics Association, vol. 31(5), pages 1225-1241, November.
  7. Cigno, Alessandro & Rosati, Furio C., 1996. "Jointly determined saving and fertility behaviour: Theory, and estimates for Germany, Italy, UK and USA," European Economic Review, Elsevier, Elsevier, vol. 40(8), pages 1561-1589, November.
  8. Entwisle, Barbara & Winegarden, C R, 1984. "Fertility and Pension Programs in LDCs: A Model of Mutual Reinforcement," Economic Development and Cultural Change, University of Chicago Press, vol. 32(2), pages 331-54, January.
  9. Isaac Ehrlich & Jinyoung Kim, 2007. "Social Security and Demographic Trends: Theory and Evidence from the International Experience," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 10(1), pages 55-77, January.
  10. G. ABIO & Géraldine MAHIEU & C. Patxot, 2002. "On the Optimality of PAYG Pension Systems in an Endogenous Fertility Setting," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 2002006, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
  11. Becker, Gary S, 1993. "Nobel Lecture: The Economic Way of Looking at Behavior," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 101(3), pages 385-409, June.
  12. Neher, Philip A, 1971. "Peasants, Procreation, and Pensions," American Economic Review, American Economic Association, American Economic Association, vol. 61(3), pages 380-89, June.
  13. Robert Fenge & Volker Meier, 2004. "Are Family Allowances and Fertility-related pensions Siamese Twins?," CESifo Working Paper Series 1157, CESifo Group Munich.
  14. Cigno, Alessandro & Rosati, Furio Camillo, 1992. "The Effects of Financial Markets and Social Security on Saving and Fertility Behaviour in Italy," Journal of Population Economics, Springer, Springer, vol. 5(4), pages 319-41.
  15. van Groezen, Bas & Leers, Theo & Meijdam, Lex, 2003. "Social security and endogenous fertility: pensions and child allowances as siamese twins," Journal of Public Economics, Elsevier, Elsevier, vol. 87(2), pages 233-251, February.
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