social security and endogenous retirement and fertility decisions. It demonstrates that neither fertility nor retirement … fertility and the elderly labor supply in the economy as a whole. It shows that governments can realize the first …

contribution scheme. In particular we examine the relationship between retirement, fertility and pensions in a three … chosen. In the case of mandatory retirement, increasing longevity has an unambiguously negative impact on fertility and … decrease fertility less. Finally, the effects of the social security tax on capital per worker are negative with mandatory …