Stauvermann, Peter; Wernitz, Frank - In: Economies : open access journal 7 (2019) 4/117, pp. 1-16
The aim of the paper is to investigate how child allowances affect population growth and pension benefits of pay-as-you-go (PAYG) pension systems in small open and closed economies. We apply an overlapping-generations (OLG) model in its canonical form, where we consider endogenous fertility and...