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Pay-As-You-Go Pension, Bargaining Power, and Fertility

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The effects of pension policies on fertility have been examined in the overlappinggenerations (OLG) model of the unitary household in which no heterogeneity exists between wife and husband. This study departs from the OLG model to focus on marital bargaining arising from heterogeneity in a nonunitary model. Specifically, this paper examines how pension policies affect the fertility of a bargaining couple with different life spans. The analysis reveals a new channel from pension policies to fertility decisions, whereby an increase in pension size affects fertility not only via the changes in current and future income but also through a change in marital bargaining power. This result suggests that an increase in a pay-as-you-go pension may induce a negative effect on fertility through women's empowerment.
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Keywords: FERTILITY; LONGEVITY; MARITAL BARGAINING; PENSION

Document Type: Research Article

Publication date: 01 June 2018

This article was made available online on 05 March 2018 as a Fast Track article with title: "Pay-As-You-Go Pension, Bargaining Power, and Fertility".

More about this publication?
  • As one of the world's oldest professional journals in public finance, founded in 1884, FinanzArchiv (FA) publishes original work from all fields of public economics which are of interest to an international readership, e.g. taxation, public debt, public goods, public choice, federalism, market failure, social policy, and the welfare state. Special emphasis is on high-quality theoretical and empirical papers on current policy issues.

    FA is a peer-reviewed journal commited to a prompt turnaround of submissions.

    FA is listed in the Social Science Citation Index (SSCI), in Current Contents/Social and Behavioral Sciences, in Econ Lit, in the Journal of Economic Literature, in IDEAS and RePEc and in the International Bibliography of the Social Sciences.

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