Jellal, Mohamed and Bouzahzah, Mohamed (2012): Social security family finance and demography.
Download (306kB) | Preview
In this paper we analyzed a model of endogenous fertility in presence of financial market assets and social security pensions. Given the children externality and in the absence of corrective policy, the fertility rate chosen in market economy is too low. Indeed, in his optimal choice of family size, the representative household does not take into account of this children externality which leads to a sub optimal demography. We have shown that an optimal demographic allocation exists and can be implemented through a subvention taxation policy if it is available
|Item Type:||MPRA Paper|
|Original Title:||Social security family finance and demography|
|Keywords:||Fertility, social security, financial maket, old age security|
|Subjects:||J - Labor and Demographic Economics > J1 - Demographic Economics > J13 - Fertility ; Family Planning ; Child Care ; Children ; Youth
H - Public Economics > H5 - National Government Expenditures and Related Policies > H55 - Social Security and Public Pensions
E - Macroeconomics and Monetary Economics > E2 - Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy
J - Labor and Demographic Economics > J1 - Demographic Economics
D - Microeconomics > D1 - Household Behavior and Family Economics
|Depositing User:||Mohamed Jellal|
|Date Deposited:||15. May 2012 01:12|
|Last Modified:||16. Sep 2015 16:57|
Abio, G., Mahieu, G. And Patxot, C. (2004) On the optimality of PAYG pension systems in an endogenous fertility setting, Journal of Pension Economics and Finance, vol. 3, pp. 35-62
Becker, G.S. (1993). Nobel lecture : the economic way of looking at behavior , Journal of Political Economy, 101, 385–409. Boldrin, M.De Nardi, M. and Jones, L. (2005) Fertility and Social Security, NBER WP
Cigno, A. and Rosati, F.C. (1992). The effects of financial markets and social security on saving and fertility behaviour in Italy , Journal of Population Economics, 5, 319–41.
Cigno, A. and Rosati, F. (1996). Joint determined saving and fertility behaviour: theory and estimates for Germany, Italy, the UK and USA, European Economic Review, vol. 40, pp. 1561-1589.
Cigno, A. and Werding, M. (2007) Children and Pensions, CESifo Book Series Dasgupta, P. (1993). An Inquiry into Well-Being and Destitution, Clarendon Press, Oxford.
Ehlrich, I. and Kim, J. (2007) Social security and demographic trends: Theory and evidence from the international experience, Review of Economic Dynamics, Vol. 10 (1), pp. 55-77
Entwisle, B. and Winegarden, C.R. (1984). Fertility and pension programs in LDCs: a model of mutual reinforcement , Economic Development and Cultural Change, 32, 331–54.
Fenge, R. and Meier, V. (2008) Are family allowances and fertility-related pensions Siamesetwins?, mimeo
Groezen, B van, Leers, T., Meijdam, L., 2003. Social security and endogenous fertility: pensions and child allowances as Siamese twins. Journal of Public Economics 87, 233–251.
Jellal,M (2000) . General Theory of Fertility in LDC
Jellal, M. and Wolff, F.C. (2000). Shaping intergenerational relationships : the demonstration effect , Economics Letters, 68, 255–61.
Jellal, M. and Wolff, F.C. (2002). Insecure Old Age Security , Oxford Economic Papers 54,636-648
Jellal, M. and Wolff, F.C. (2002). Cultural evolutionary altruism: theory and evidence, European Journal of Political Economy Vol. 18 (2002) 241–262
Leibenstein, H. (1957). Economic Backwardness and Economic Growth, Wiley, New York.
Neher, P.A. (1971). Peasants, procreation and pensions , American Economic Review, 61, 380–89.
Nugent, J.B. (1985). The old-age security motive for fertility’, Population and Development Review, 11, 75–98.
Nugent, J.B. and Gillaspy, R.T. (1983). Old-age pensions and fertility in rural areas of less developed countries: some evidence from Mexico , Economic Development and Cultural Change, 31, 809–30.
Raut, L.K. (1996). Old-age security and gender preference hypotheses: a duration analysis of Malaysian family life survey data , Journal of Quantitative Economics, 12, 81–104.
Rendall, M.S. and Bahchieva, R.A. (1998). An old-age security motive for fertility in the United States? , Population and Development Review, 24, 293–307.
Zhang, J., Zhang, J., 1998. Social security, intergenerational transfers, and endogenous growth. Canadian Journal of Economics 31, 1225–1241