This study analyzes how a social security system consisting of a public pension, child allowances, and unemployment insurance affects endogenous fertility and unemployment when the wage level is endogenously set by monopolistic trade unions in an overlapping generations model (OLG) model. The...

This study analyses how fertility is affected by social security system when efficiency wages are considered in an overlapping generations model of a small open economy. It reveals that the effects of pension and unemployment insurance depend on the childrearing costs level, and the higher...

Wang (2018) elucidates the relationship between NDC pension and fertility in a two-period OLG model of a small open economy with an imperfect labor market. What if the analysis is conducted in a closed economy? This study demonstrates an economic comparison between a closed and open economy with...