Social security and endogenous demographic change: child support and retirement policies

نویسندگان

چکیده

Abstract This paper studies retirement and child support policies in a small, open, overlapping-generations economy with PAYG social security endogenous fertility decisions. It demonstrates that neither nor choices necessarily coincide socially optimal allocation, because agents do not take into account the externalities of elderly labor supply as whole. shows governments can realize first-best allocation by introducing allowance scheme subsidy to incentivize older workers. As an alternative subsidizing supply, we show also be achieved controlling age. Finally, model is simulated order study whether devoted realizing optimum market could Pareto improvement.

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ژورنال

عنوان ژورنال: Journal of Pension Economics & Finance

سال: 2021

ISSN: ['1475-3022', '1474-7472']

DOI: https://doi.org/10.1017/s1474747220000402