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Luca Gori and Luciano Fanti
''Fertility-related pensions and fertility disincentives''
( 2008, Vol. 10 No.8 )
Since recent studies have argued that a pro-natalist effect could be obtained by introducing fertility-related pension systems for contrasting, especially in European countries, the plague of below-replacement fertility and the resulting problem of financing the widespread pay-as-you-go (PAYG) pension benefits, we built up an overlapping generations (OLG) general equilibrium model with endogenous fertility, to investigate whether and how a fertility-related pension reform increases population growth. We show that if the capital's share in production is high enough, such a reform, in contrast with the suggestions of the preceding literature, always reduces the long-run fertility rate.
JEL: J1 - Demographic Economics: General
H5 - National Government Expenditures and Related Policies National Government Expenditures and Related Policies: General
Manuscript Received : Jan 12 2008 Manuscript Accepted : Jun 09 2008

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