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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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Scholars have been examining the relationship between fertility and unemployment for more than a century. Most studies … find that fertility falls with unemployment in the short run, but it is not known whether these negative effects persist … period 1975 to 2010, we analyze both the short and long-run effects of unemployment on fertility. We follow fixed cohorts of …
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