Miyazaki, Koichi - In: Journal of Population Economics 26 (2013) 3, pp. 1233-1250
, and welfare in a neoclassical growth model. In addition, this paper considers a more general form of child-rearing cost … expansion of the pay-as-you-go social security depends on (1) the size of the monetary child-rearing cost relative to the time … spent on child-rearing and (2) the current fertility and interest rate in laissez faire. The second observation is that …