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 …

of it was intended to illuminate issues of compelling policy importance, such as declining fertility and population aging …

Fertility has long been declining in industrialised countries and the existence of public pension systems is considered … which a public pension system depresses fertility. Our theoretical framework highlights that the effect of a public pension … system on fertility works via the impact of contributions in such a system on disposable income as well as via the impact on …