EconPapers    
Economics at your fingertips  
 

On the optimality of PAYG pension systems in an endogenous fertility setting

G. Abã O, G. Mahieu and Concepció Patxot ()
Authors registered in the RePEc Author Service: Gemma Abio

Journal of Pension Economics and Finance, 2004, vol. 3, issue 1, 35-62

Abstract: In order to help in designing an accurate pension reform, we determine the resource allocation in an endogenous fertility model that generates an endogenous demographic transition by means of distinguishing between female and male labor. We analyze the problem of the optimal solution and characterize the decentralization of the first best. We show that a pension policy linking pension benefits to the number of children acts as a corrective tax system able to restore both the optimal capital stock and the optimal rate of population growth as a single instrument. We also show that neither a Beveridgean pension scheme nor a Bismarckian one can decentralize the first best.

Date: 2004
References: Add references at CitEc
Citations: View citations in EconPapers (49) Track citations by RSS feed

Downloads: (external link)
https://www.cambridge.org/core/product/identifier/ ... type/journal_article link to article abstract page (text/html)

Related works:
Working Paper: On the Optimality of PAYG Pension Systems in an Endogenous Fertility Setting (2003) Downloads
Working Paper: On the Optimality of PAYG Pension Systems in an Endogenous Fertility Setting (2002) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cup:jpenef:v:3:y:2004:i:01:p:35-62_00

Access Statistics for this article

More articles in Journal of Pension Economics and Finance from Cambridge University Press Cambridge University Press, UPH, Shaftesbury Road, Cambridge CB2 8BS UK.
Bibliographic data for series maintained by Keith Waters ().

 
Page updated 2019-11-14
Handle: RePEc:cup:jpenef:v:3:y:2004:i:01:p:35-62_00