Pension Policies in a Model with Endogenous Fertility
Giam Pietro Cipriani () and
Francesco Pascucci ()
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Francesco Pascucci: University of Verona
No 11511, IZA Discussion Papers from Institute for the Study of Labor (IZA)
We set up an overlapping generations model with endogenous fertility to study pensions policies in an ageing economy. We show that an increasing life expectancy may not be detrimental for the economy or the pension system itself. On the other hand, conventional policy measures, such as increasing the retirement age or changing the social security contribution rate could have undesired general equilibrium effects. In particular, both policies decrease capital per worker and might have negative effects on the fertility rate, thus exacerbating population ageing.
Keywords: overlapping generations; pension policies; endogenous fertility; ageing (search for similar items in EconPapers)
JEL-codes: D15 H55 J13 J18 J26 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-age, nep-dem, nep-dge and nep-gro
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Forthcoming in: Journal of Pension Economics and Finance, 2018
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Persistent link: https://EconPapers.repec.org/RePEc:iza:izadps:dp11511
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