A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
Endogenous fertility, altruistic behavior across generations, and social security systems
Abstract The present paper explores the impact of an intergenerational externality on private fertility decisions, under a pay-as-you-go social security system. The analysis is performed in the framework of a steady state growth model, with overlapping generations. To explain why households have children, altruism between parents and children is assumed. Surprisingly, the effects of altruism are not symmetric. The private fertility decisions are optimal only if children “love” their parents, because children then make private transfers at exactly the right level.
Endogenous fertility, altruistic behavior across generations, and social security systems
Abstract The present paper explores the impact of an intergenerational externality on private fertility decisions, under a pay-as-you-go social security system. The analysis is performed in the framework of a steady state growth model, with overlapping generations. To explain why households have children, altruism between parents and children is assumed. Surprisingly, the effects of altruism are not symmetric. The private fertility decisions are optimal only if children “love” their parents, because children then make private transfers at exactly the right level.
Endogenous fertility, altruistic behavior across generations, and social security systems
Prinz, Aloys (author)
1990
Article (Journal)
English
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