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Politics of Public Education and Pension Reform with Endogenous Fertility

Yuki Uchida and Tetsuo Ono

MPRA Paper from University Library of Munich, Germany

Abstract: We demonstrate the interaction between short-lived governments’ decisions on education and pension policies and parents’ decisions on fertility in an overlapping generations growth model. Our analysis shows that increased expected life expectancy lowers fertility, decreases the ratio of education expenditure to GDP, and increases the ratio of pension benefits to GDP as well as per capita GDP growth rate. We also consider a reform that reduces pension benefits designed by a long-lived planner and show that the reduction is optimal from a social welfare perspective when the planner gives a large weight to future generations.

Keywords: Fertility; Public Pension; Public Education; Probabilistic Voting; Overlapping Generations (search for similar items in EconPapers)
JEL-codes: D70 E62 H52 H55 (search for similar items in EconPapers)
Date: 2022-04-14
New Economics Papers: this item is included in nep-age, nep-dge, nep-gro and nep-mac
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Working Paper: Politics of Public Education and Pension Reform with Endogenous Fertility (2022) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:112748

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