A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
Aging, fertility, social security and political equilibrium
Abstract We analyze the effect of population aging on the political choice of the size of a pay-as-you-go (PAYG) social security system, incorporating the heterogeneity of individuals in their preference for having children, and hence the endogenous fertility choices of individuals, into a simple overlapping generations model. We show that population aging may result in an increase in the contribution rate, increasing the share of the retired population who prefer a higher contribution rate; and that, if the system involves redistribution between retirees with different contributions, the increased contribution rate raises the number of individuals who have children, i.e., future contributors.
Aging, fertility, social security and political equilibrium
Abstract We analyze the effect of population aging on the political choice of the size of a pay-as-you-go (PAYG) social security system, incorporating the heterogeneity of individuals in their preference for having children, and hence the endogenous fertility choices of individuals, into a simple overlapping generations model. We show that population aging may result in an increase in the contribution rate, increasing the share of the retired population who prefer a higher contribution rate; and that, if the system involves redistribution between retirees with different contributions, the increased contribution rate raises the number of individuals who have children, i.e., future contributors.
Aging, fertility, social security and political equilibrium
Hirazawa, Makoto (author) / Kitaura, Koji (author) / Yakita, Akira (author)
2008
Article (Journal)
English
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