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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.it/papers/child04_2009.pdf
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Publisher 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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Find related papers by JEL classification:
D13 - Microeconomics - - Household Behavior - - - Household Production and Intrahouse Allocation
D64 - Microeconomics - - Welfare Economics - - - Altruism
H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
J13 - Labor and Demographic Economics - - Demographic Economics - - - Fertility; Family Planning; Child Care; Children; Youth
J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped
J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Gary S. Becker & Robert J. Barro, 1988. "A Reformulation of the Economic Theory of Fertility," NBER Working Papers 1793, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  2. 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.
  3. Disney Richard, 2004. "Are contributions to public pension programmes a tax on employment?," Economic Policy, CEPR, CES, MSH, vol. 19(39), pages 267-311, 07. [Downloadable!] (restricted)
  4. 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. [Downloadable!] (restricted)
  5. T. Paul Schultz, 2007. "Population Policies, Fertility, Women's Human Capital, and Child Quality," Working Papers 954, Economic Growth Center, Yale University. [Downloadable!]
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  6. Cigno, Alessandro, 2006. "The political economy of intergenerational cooperation," Handbook on the Economics of Giving, Reciprocity and Altruism, Elsevier. [Downloadable!] (restricted)
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  7. Alessandro Cigno & Annalisa Luporini & Anna Pettini, 2004. "Hidden information problems in the design of family allowances," Journal of Population Economics, Springer, vol. 17(4), pages 645-655, December. [Downloadable!] (restricted)
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  8. Alessandro Cigno & Gianna Giannelli & Furio Rosati & Daniela Vuri, 2006. "Is there such a thing as a family constitution? A test based on credit rationing," Review of Economics of the Household, Springer, vol. 4(3), pages 183-204, 09. [Downloadable!] (restricted)
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This page was last updated on 2009-11-1.

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