Social Security Reform and Childcare Support

Takashi Oshio, 隆士 小塩 and タカシ オシオ

No 119, Discussion Paper from Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University

Abstract: This paper examines how social security reform and childcare support affect fertility and social welfare, based on a simple overlapping generations model with endogenous fertility. In an open economy with no altruism, introducing a childcare subsidy is the second-best solution under an aging population. However, in a closed economy and/or assuming the household's altruistic bequests, childcare support is not necessarily desirable and the case that curtailing a pay-as-you-go social security system reduces social welfare cannot be ruled out. In addition, we show that social security reform and childcare have different effects on the transition process to a new steady state.

Keywords: Social security; childcare support; fertility; bequests (search for similar items in EconPapers)
JEL-codes: H31 H55 (search for similar items in EconPapers)
Pages: 38 pages
Date: 2002-09
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Persistent link: https://EconPapers.repec.org/RePEc:hit:piedp1:119

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