Pay-as-you-go financed public pensions in a model of endogenous growth and fertility

Berthold Wigger ()

Journal of Population Economics, 1999, vol. 12, issue 4, 625-640

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.

Keywords: Public; pensions; ·; endogenous; growth; ·; fertility (search for similar items in EconPapers)
JEL-codes: H55 J13 O41 (search for similar items in EconPapers)
Date: 1999-12-16
Note: Received: 9 September 1997 / Accepted: 10 April 1998
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Citations: View citations in EconPapers (90)

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