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Endogenous Fertility Policy And Unfunded Pensions

Booth, Alison L and Sepulveda, Facundo (2007) Endogenous Fertility Policy And Unfunded Pensions. Working Paper. CAMA Working Papers.

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Abstract

We study the joint determination of fertility subsidies and Social Security taxes in an overlapping generations model where agents are heterogeneous in endowments. In equilibria where Social Security is valued, old and poor young agents form a coalition that sustains Social Security. When voting for fertility subsidies, the young take into account both the deadweight loss of such subsidies and the gains from a higher future tax base. They also take into account a third effect of increasing population growth: that of a decrease in future Social Security benefits as a consequence of a change in the identity of the future decisive voter.

Item Type: Monograph (Working Paper)
Subjects: H Social Sciences > HB Economic Theory
Divisions: Faculty of Social Sciences > Economics, Department of
Depositing User: Jim Jamieson
Date Deposited: 18 Jul 2012 17:42
Last Modified: 18 Jul 2012 17:42
URI: http://repository.essex.ac.uk/id/eprint/3114

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