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A Perfect Marriage: Child-related Pensions and Public Education

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  • Michael Voigtländer

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Abstract

In the present paper the effects of different pay-as-you-go pension systems on fertility decisions of a representative household are examined. Thereby, the analysis focuses especially on the interplay of parental quantity and quality decisions, introduced by Becker (1960). As it will be shown, a traditional pay-as-you-go system in either case distorts decisions of parents leading to an erosion of the financial basis of the system. In contrast, the assessment of a child-related pay-as-you-go system is ambiguous. If parents are solely responsible for expenditures on the quality of children, it is inefficient, too. However, if it is combined with a device like public education, optimality can be restored.

Suggested Citation

  • Michael Voigtländer, 2004. "A Perfect Marriage: Child-related Pensions and Public Education," Otto-Wolff-Institut Discussion Paper Series 02/2004, Otto-Wolff-Institut für Wirtschaftsordnung, Köln, Deutschland.
  • Handle: RePEc:kln:owiwdp:dp_marriage
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    File URL: http://www.otto-wolff-institut.de/Publikationen/DiskussionPapers/perfect_marriage_owiwo_02_04.pdf
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    References listed on IDEAS

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    1. Gary S. Becker, 1960. "An Economic Analysis of Fertility," NBER Chapters,in: Demographic and Economic Change in Developed Countries, pages 209-240 National Bureau of Economic Research, Inc.
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    Cited by:

    1. Tim Buyse, 2014. "Pensions and fertility: a simple proposal for reform," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 14/888, Ghent University, Faculty of Economics and Business Administration.
    2. Michael Voigtländer, 2005. "Qualitative und quantitative Aspekte einer Elternrente?," List Forum Chapter,in: List Forum Band 31, edition 1, volume 3, chapter 13, pages 215-230 List Gesellschaft e.V..

    More about this item

    Keywords

    Pay-as-you-go; child-related pension; quantity and quality of children;

    JEL classification:

    • D10 - Microeconomics - - Household Behavior - - - General
    • I20 - Health, Education, and Welfare - - Education - - - General
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions

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