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Pensions, fertility, and education

  • Meier, Volker
  • Wrede, Matthias

A pay-as-you-go pension scheme is associated with positive externalities of having children and providing them with human capital. In a framework with heterogeneity in productivity, and stochastic and endogenous investment in fertility and education, we discuss internalization policies associated with child benefits in the pension formula. The second-best scheme displays both a benefit contingent on the contributions of children and a purely fertility-related component. Copyright

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Paper provided by University of Munich, Department of Economics in its series Munich Reprints in Economics with number 19214.

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Date of creation: 2010
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Publication status: Published in Journal of Pension Economics and Finance 1 9(2010): pp. 75-93
Handle: RePEc:lmu:muenar:19214
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  24. Berthold U. Wigger, 1999. "Pay-as-you-go financed public pensions in a model of endogenous growth and fertility," Journal of Population Economics, Springer;European Society for Population Economics, vol. 12(4), pages 625-640.
  25. Mark Gradstein & Moshe Justman & Volker Meier, 2004. "The Political Economy of Education: Implications for Growth and Inequality," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262072564, June.
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