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How to avoid a pension crisis: A question of intelligent system design

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Author Info

  • Alessandro Cigno

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Abstract

Conventional pension systems suffer from a design defect which makes them financially unsustainable, and a source of inefficiency for the economy as a whole. The paper outlines a second-best policy which includes a public pension system made up of two parallel schemes, a Bismarckian one allowing individuals to qualify for a pension by working and paying contributions in the usual way, and an unconventional one allowing them to qualify for a pension by having children, and investing time and money in their upbringing.

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File URL: http://www.child-centre.unito.it/papers/child04_2009.pdf
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Bibliographic Info

Paper provided by CHILD - Centre for Household, Income, Labour and Demographic economics - ITALY in its series CHILD Working Papers with number wp04_09.

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Length: 17 pages
Date of creation: Jan 2009
Date of revision:
Handle: RePEc:wpc:wplist:wp04_09

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Related research

Keywords: Pension reform; implicit pension taxes and subsidies; child benefits; fertility; labour productivity.;

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References

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  1. Becker, Gary S & Barro, Robert J, 1988. "A Reformulation of the Economic Theory of Fertility," The Quarterly Journal of Economics, MIT Press, vol. 103(1), pages 1-25, February.
  2. Cigno, Alessandro, 2008. "Is there a social security tax wedge," Labour Economics, Elsevier, vol. 15(1), pages 68-77, February.
  3. Alessandro Cigno & Annalisa Luporini & Anna Pettini, 2000. "Transfers to Families with Children as a Principal-Agent Problem," CESifo Working Paper Series 351, CESifo Group Munich.
  4. Robert Fenge & Volker Meier, 2005. "Pensions and fertility incentives," Canadian Journal of Economics, Canadian Economics Association, vol. 38(1), pages 28-48, February.
  5. Cigno, Alessandro & Giannelli, Gianna Claudia & Rosati, Furio C. & Vuri, Daniela, 2004. "Is There Such a Thing as a Family Constitution? A Test Based on Credit Rationing," IZA Discussion Papers 1116, Institute for the Study of Labor (IZA).
  6. Schultz, T. Paul, 2008. "Population Policies, Fertility, Women's Human Capital, and Child Quality," Handbook of Development Economics, Elsevier.
  7. Martin Werding & Herbert Hofmann, 2006. "Die fiskalische Bilanz eines Kindes im deutschen Steuer- und Sozialsystem," Ifo Schnelldienst, Ifo Institute for Economic Research at the University of Munich, vol. 59(02), pages 28-36, 01.
  8. Ehrlich, Isaac & Zhong, Jian-Guo, 1998. "Social Security and the Real Economy: An Inquiry into Some Neglected Issues," American Economic Review, American Economic Association, vol. 88(2), pages 151-57, May.
  9. Peter A. Diamond & Peter R. Orszag, 2005. "Saving Social Security," Journal of Economic Perspectives, American Economic Association, vol. 19(2), pages 11-32, Spring.
  10. Alessandro Cigno & Martin Werding, 2007. "Children and Pensions," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262033690, December.
  11. Cigno, Alessandro & Luporini, Annalisa & Pettini, Anna, 2003. "Hidden Information Problems in the Design of Family Allowances," IZA Discussion Papers 790, Institute for the Study of Labor (IZA).
  12. Diamond Peter A & Orszag Peter R, 2005. "Saving Social Security: The Diamond-Orszag Plan," The Economists' Voice, De Gruyter, vol. 2(1), pages 1-9, April.
  13. Cigno, Alessandro, 1986. "Fertility and the Tax-Benefit System: A Reconsideration of the Theory of Family Taxation," Economic Journal, Royal Economic Society, vol. 96(384), pages 1035-51, December.
  14. Jie Zhang & Junsen Zhang, 2004. "How does social security affect economic growth? Evidence from cross-country data," Journal of Population Economics, Springer, vol. 17(3), pages 473-500, 08.
  15. Alessandro Cigno & Luca Casolaro & Furio C. Rosati, 2002. "The Impact of Social Security on Saving and Fertility in Germany," FinanzArchiv: Public Finance Analysis, Mohr Siebeck, Tübingen, vol. 59(2), pages 189-, May.
  16. Charles Hohm, 1975. "Social security and fertility: An international perspective," Demography, Springer, vol. 12(4), pages 629-644, November.
  17. 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, vol. 5(4), pages 319-41.
  18. 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.
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Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Saving pensions with conditional benefits
    by Economic Logician in Economic Logic on 2010-05-12 14:15:00

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