ISSN:
1432-1475
Keywords:
JEL classification: H55
;
J13
;
O41
;
Key words: Public pensions
;
endogenous growth
;
fertility
Source:
Springer Online Journal Archives 1860-2000
Topics:
Sociology
,
Economics
Notes:
Abstract. Employing an overlapping generations endogenous growth model in which parents derive utility from having children and, additionally, expect children to support them in old age, this paper explores the interrelation between growth, fertility, and the size of pay-as-you-go financed public pensions. It is shown that small sized public pensions stimulate per capita income growth, but further increases in public pensions eventually reduce it. Fertility, on the other hand, falls by an increase in public pensions if they are either small or large. Medium sized public pensions, however, may stimulate fertility.
Type of Medium:
Electronic Resource
URL:
http://dx.doi.org/10.1007/s001480050117
Permalink