Pension, fertility, and education

A pay-as-you-go pension scheme is associated with positive externalities of having children and providing them with human capital. In a framework with heterogeneity in productivity, and stochastic and endogenous investment in fertility and education, we discuss internalization policies associated with child benefits in the pension formula. The second-best scheme displays both a benefit contingent on the contributions of children and a purely fertility-related component.

MoreLess

Year of publication:	2005
Authors:	Meier, Volker ; Wrede, Matthias
Publisher:	Munich : Center for Economic Studies and ifo Institute (CESifo)
Subject:	Gesetzliche Rentenversicherung \| Umlageverfahren \| Externer Effekt \| Fruchtbarkeit \| Bildungsinvestition \| Theorie \| pay-as-you-go \| fertility \| human capital \| externalities

More details

Series:	CESifo Working Paper ; 1521
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	500540691 [GVK] hdl:10419/18985 [Handle]
Classification:	H55 - Social Security and Public Pensions ; J13 - Fertility; Family Planning; Child Care; Children; Youth ; J18 - Public Policy ; H23 - Externalities; Redistributive Effects ; Environmental Taxes and Subsidies
Source:	EconStor

Persistent link: https://www.econbiz.de/10010261317