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Pension, Fertility, and Education

Volker Meier () and Matthias Wrede ()

No 1521, CESifo Working Paper Series from CESifo Group Munich

Abstract: 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.

Keywords: pay-as-you-go; fertility; human capital; externalities (search for similar items in EconPapers)
JEL-codes: H23 H55 J13 J18 (search for similar items in EconPapers)
Date: 2005
New Economics Papers: this item is included in nep-edu and nep-pbe
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Related works:
Journal Article: Pensions, fertility, and education (2010) Downloads
Working Paper: Pensions, fertility, and education (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:ces:ceswps:_1521

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