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fertility. What type of model is consistent with this finding? We explore this question using two models of fertility: one by …-age transfers.The effect of increases in government provided pensions on fertility in the Barro and Becker model is very small …, whereas the effect on fertility in the Boldrin and Jones model is sizeable and accounts for between 55 and 65% of the observed …
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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...
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population growth, an implication which is hard to see in the data. Here we integrate micro-founded fertility and schooling into … future economic growth - when fertility is going to be below replacement level in virtually all fully developed countries …
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