We constructed an overlapping-generations model with endogenous fertility to analyze the effects of child benefits and pensions on the welfare of current and future generations. The following results were obtained. First, in the case without pension and accelerated fiscal reforms, the best...

We developed the Overlapping Generations model based on the endogenous growth theory, incorporating Human Capital Stock and conducted some simulations under the alternative population growth patterns and some sensitivity analysis with respect to some key parameters. The main results are as...