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Detailed Information:
| Author(s): |
Makato Hirazawa, Koji Kitaura, Akira Yakita
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| Title: |
Aging, fertility, social security and the political equilibrium
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| 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.
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| Published: |
J Popul Econ (2010) 23 (2): 559-569
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| Keywords: |
Political equilibrium - Aging - Pay-as-you-go social security - Fertility
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| Jel: |
D72 - H55 - J13
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