This article conducts a systematic analysis of four bequest motives in a simple model of endogenous growth. It analyzes how bequest motives affect fertility, savings, growth, and the effects of pay-as-you-go Social Security. It is found that altruistic and exchange motives give equivalent...

In this paper, the effects of social security in a simple model of endogenous growth with alternative motives of having children are analyzed. It shows how the effects of social security depend on the size of the social security tax, the motive to have children, and the pattern of...