Pensions, fertility, and education
Volker Meier () and
Matthias Wrede ()
Journal of Pension Economics and Finance, 2010, vol. 9, issue 1, 75-93
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.
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Working Paper: Pensions, fertility, and education (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:cup:jpenef:v:9:y:2010:i:01:p:75-93_00
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