Fertility has long been declining in industrialised countries and the existence of public pension systems is considered as one of the causes. This paper is the first to provide detailed evidence based on historical data on the mechanism by which a public pension system depresses fertility. Our...

This paper discusses the efficiency of a pay-as-you-go pension reform by introducing a child benefit in an endogenous 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...

Kinderlosigkeit hat zwei unmittelbare Auswirkungen auf das Rentensystem. Erstens stehen dadurch in der nächsten Generation weniger Beitragszahler zur Verfügung. Zweitens zahlen Kinderlose ihrerseits typischerweise mehr Rentenbeiträge. Denn insbesondere Frauen ohne Kinder haben ein meist...