Munich Personal RePEc Archive

Endogenous Fertility and Pension System

Yasuoka, Masaya (2018): Endogenous Fertility and Pension System.

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This paper presents consideration of two public pension systems having a Defined Contribution (DC) or a Defined Benefit (DB) structure. The differences between these two pension structures are considerably important. In fact, DC benefits for older people are changed according to a budget under a constant contribution rate by younger people, but DB entails a contribution rate that changes based on maintenance of a balanced budget, providing constant benefits for older people. In addition, this paper presents consideration of the child care of two types: one for the child care service and the other for the child care time. The noteworthy result shows that the DB pension system derives the multiple fertility if the child care is given by the time because of the contribution rate affects both the household disposable income and opportunity cost to have children.

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