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Conventional pension systems suffer from a design defect which makes them financially unsustainable, and a source of inefficiency for the economy as a whole. The paper outlines a second-best policy which includes a public pension system made up of two parallel schemes, a Bismarckian one allowing...
Persistent link: https://www.econbiz.de/10003936144
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 …
Persistent link: https://www.econbiz.de/10009792218
fertility setting. In the model of a small open economy, higher fertility is associated with a reduction of lifetime labor … supply. The optimum share of fertility-related pensions is always below unity, but generally positive. The former is true … demonstrated that child allowances are equivalent to fertility-related pensions as instruments to achieve an efficient allocation. …
Persistent link: https://www.econbiz.de/10011506226
The effects of pension policies on fertility have been examined in the overlapping generations (OLG) model of unitary … examines how the pension policy affects the endogenous fertility of a bargaining couple who have different lifespans. The … analysis finds out a new channel of pension policy on fertility decisions: an increase in pension size affects fertility not …
Persistent link: https://www.econbiz.de/10010408840
Rising public pension generosity has frequently been cited as one reason for the (persistently) declining fertility … rates in many advanced economies. Despite the theoretical appeal, empirical evidence on the pension-fertility nexus is … limited. To fill this gap, I study country-level fertility trends before and after 23 pension reforms using a long-run panel …
Persistent link: https://www.econbiz.de/10011608047
This study identifies the causal effect of pension generosity on women's fertility behavior. It capitalizes on Brazil … age by 10% in the short-run. Completed fertility declines by 1.3 children within 20 years after the reform, reducing the … contribution base of the Pay-As-You-Go pension system in the long-run. The fertility response is strongest at higher birth parities …
Persistent link: https://www.econbiz.de/10012193368
This study identifies the causal effect of pension generosity on women’s fertility behavior. It capitalizes on Brazil … age by 10% in the short-run. Completed fertility declines by 1.3 children within 20 years after the reform, reducing the … contribution base of the Pay-As-You-Go pension system in the long-run. The fertility response is strongest at higher birth parities …
Persistent link: https://www.econbiz.de/10012194379
-as-you-go pension system. Family allowances are compared to introducing a fertility-related component into the pension formula. In an …
Persistent link: https://www.econbiz.de/10011402545
Conventional pension systems suffer from a design defect which makes them financially unsustainable, and a source of inefficiency for the economy as a whole. The paper outlines a second-best policy which includes a public pension system made up of two parallel schemes, a Bismarckian one allowing...
Persistent link: https://www.econbiz.de/10010331423
Conventional pension systems suffer from a design defect which makes them financially unsustainable, and a source of inefficiency for the economy as a whole. The paper outlines a second-best policy which includes a public pension system made up of two parallel schemes, a Bismarckian one allowing...
Persistent link: https://www.econbiz.de/10010264592