Social Security Reform and Childcare Support
This paper examines how social security reform and childcare support affect fertility and social welfare, based on a simple overlapping generations model with endogenous fertility. In an open economy with no altruism, introducing a childcare subsidy is the second-best solution under an aging population. However, in a closed economy and/or assuming the household's altruistic bequests, childcare support is not necessarily desirable and the case that curtailing a pay-as-you-go social security system reduces social welfare cannot be ruled out. In addition, we show that social security reform and childcare have different effects on the transition process to a new steady state.
|Length:||28,  p.|
|Date of creation:||Sep 2002|
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- Becker, Gary S & Murphy, Kevin M & Tamura, Robert, 1990.
"Human Capital, Fertility, and Economic Growth,"
Journal of Political Economy,
University of Chicago Press, vol. 98(5), pages S12-37, October.
- Gary S. Becker & Kevin M. Murphy & Robert Tamura, . "Human Capital, Fertility, and Economic Growth," University of Chicago - Population Research Center 90-5a, Chicago - Population Research Center.
- Gary S. Becker & Kevin M. Murphy & Robert F. Tamura, 1990. "Human Capital, Fertility, and Economic Growth," NBER Working Papers 3414, National Bureau of Economic Research, Inc.
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