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Savings, Child Support, Pensions and Endogenous (and Heterogeneous) Fertility

  • Andras Simonovits

    ()

    (Institute of Economics, Centre for Economic and Regional Studies, Hungarian Academy of Sciences also Mathematical Institute, Budapest University of Technology, and Department of Economics, CEU)

van Groezen, Leers and Meijdam (2003) (for short, GLM) analyzed combination of public pension and child support in an OLG model. We impose credit constraint on workers, and extend GLM's analysis from the case where workers do not understand the cost also to the case where they do. GLM's infinite stream of generations is simplified into three generations but heterogeneity of rearing costs and of enjoying children is introduced. Two major results: (i) excluding negative savings, fertility decreases with pension contributions and increases with taxes; (ii) the introduction of fertility-dependent pensions may strengthen heterogeneity in fertility.

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Paper provided by Institute of Economics, Centre for Economic and Regional Studies, Hungarian Academy of Sciences in its series IEHAS Discussion Papers with number 1335.

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Length: 25 pages
Date of creation: Oct 2013
Date of revision:
Handle: RePEc:has:discpr:1335
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  1. Eckstein, Zvi & Wolpin, Kenneth I., 1985. "Endogenous fertility and optimal population size," Journal of Public Economics, Elsevier, vol. 27(1), pages 93-106, June.
  2. Antonio Rangel, 2003. "Forward and Backward Intergenerational Goods: Why Is Social Security Good for the Environment?," American Economic Review, American Economic Association, vol. 93(3), pages 813-834, June.
  3. Robert Fenge & Volker Meier, 2009. "Are family allowances and fertility-related pensions perfect substitutes?," International Tax and Public Finance, Springer, vol. 16(2), pages 137-163, April.
  4. Lindbeck, Assar & Nyberg, Sten & Weibull, Jörgen W., 1997. "Social Norms and Economic Incentives in the Welfare State," Working Paper Series 476, Research Institute of Industrial Economics.
  5. CREMER, Helmuth & GAHVARI, Firouz & PESTIEAU, Pierre, . "Pensions with endogenous and stochastic fertility," CORE Discussion Papers RP 1928, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  6. Cremer, Helmuth & Gahvari, Firouz & Pestieau, Pierre, 2006. "Pensions with Heterogenous Individuals and Endogenous Fertility," CEPR Discussion Papers 5553, C.E.P.R. Discussion Papers.
  7. Cigno, Alessandro, 1992. "Children and Pensions," Journal of Population Economics, Springer, vol. 5(3), pages 175-83, August.
  8. Barr, Nicholas & Diamond, Peter, 2008. "Reforming Pensions: Principles and Policy Choices," OUP Catalogue, Oxford University Press, number 9780195311303, March.
  9. 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, vol. 87(2), pages 233-251, February.
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