Pensions with Heterogenous Individuals and Endogenous Fertility

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Cremer, Helmuth; Gahvari, Firouz; Pestieau, Pierre;
(2004)
  • Publisher: IDEI Working Paper
  • Subject: B- ECONOMIE ET FINANCE | adverse selection; fertility; pensions
    • jel: jel:H55 | jel:J13 | jel:J26

This paper studies the design of pension schemes in a society where fertility is endogenous and parents differ in their ability to raise children. In a world with perfect information, a pay-as-you-go social security system is characterized by equal pensions for all but ... View more
  • References (8)

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    [4] Cigno, A., (1991), The Economics of the Family, Clarendon Press, Oxford.

    [5] Cremer, H., F. Gahvari and P. Pestieau, (2004), Pensions with endogenous and stochastic fertility, CORE Discussion Papers 2004/50.

    [6] Cremer, H., F. Gahvari and P. Pestieau, (2003), Stochastic fertility, moral hazard, and the design of pay-as-you-go pension plans, paper presented at CESifo Venice Summer Institute.

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    [8] Samuelson, P.A., (1958), An exact consumption-loan model of interest with or without the social contrivance of money, Journal of Political Economy, 66, 467- 482.

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