English, Article, Journal or magazine article edition: Fertility Decisions and the Sustainability of Defined Benefit Pay-as-You-Go Pension Systems Miriam Steurer

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Bookmark: http://trove.nla.gov.au/version/3584
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Fertility Decisions and the Sustainability of Defined Benefit Pay-as-You-Go Pension Systems
Author
  • Miriam Steurer
Physical Description
  • preprint
Notes
  • The sustainability of a defined benefit pay-as-you-go (DBPAYG) pension system is investigated in the context of an overlapping-generations model of endogenous fertility with heterogeneous agents. The model places particular emphasis on the time costs of child rearing. It illustrates the mechanism by which such a pension system can increase the opportunity cost of having children and hence sow the seeds of its own destruction. The model is then extended to allow for fertility-based payments. Such a system is more likely to be sustainable. The model highlights a number of issues that are of relevance to a number of OECD countries that have generous DBPAYG pension systems and falling fertility rates.
  • Pay-as-you-go pension; Defined benefit; Overlapping generations; Endogenous fertility; Labor participation Rate; Heterogeneous agents
  • RePEc:swe:wpaper:2009-06
Language
  • English
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