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Detailed Information:
| Author(s): |
Robert Fenge, Jakob von Weizäcker
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| Title: |
Mixing Bismarck and child pension systems: an optimal taxation approach
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| Abstract: |
Pensions with a strong tax–benefit link (Bismarck pensions) minimise the labour–leisure distortion of the public pension system. By contrast, pensions with a strong link of benefits to the number of children (child pensions) minimise the fertility distortion. When both types of distortion are present, we obtain a Corlett–Hague result regarding the optimal mix of the two pension formulae: the Bismack pension should be given a positive weight if and only if children are more complementary to leisure than consumption. Alternative fertility instruments such as child benefits turn out to be perfect substitutes to a child pension.
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| Published: |
J Popul Econ (2010) 23 (2): 805-823
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| Keywords: |
Pay-as-you-go pension - Fertility - Optimal taxation
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| Jel: |
H23 - H55 - J13
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