Ageing, fertility, and growth

• 成果类型: Article
• 署名作者: Alders, P; Broer, DP
• 署名单位: CPB Netherlands Bureau for Economic Policy; Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC
• 刊物名称: JOURNAL OF PUBLIC ECONOMICS
• ISSN/ISSBN: 0047-2727
• DOI: 10.1016/j.jpubeco.2004.06.001
• 发表日期: 2005
• 页码: 1075-1095
• 关键词: ageing; pensions; altruism; bequests; fertility; human capital

摘要

This paper analyses the interaction between human capital accumulation, fertility, and labour participation of families in the presence of technology shocks. Altruistic families spend time on the education of their children to increase their level of human capital. Compensating transfers through negative bequests are blocked by an active bequest constraint. Productivity shocks increase the opportunity costs of children and may cause a drop in fertility, which results in population ageing. We investigate the effects of ageing on allocation and welfare in the presence of a Pay-As-You-Go (PAYG) pension system. (c) 2004 Elsevier B.V. All rights reserved.