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ENDOGENOUS FERTILITY, PENSION PROGRAMS AND INTERGENERATIONAL WELFARE

机译:内源性生育率,养老金计划和代际福利

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This paper shows that the existence of a technology or any kind of commitment which allow agents to transfer wealth to the future accounts for fertility control. If only an intra-family market exists, the equilibrium fertility rate is higher than when a simple welfare state or financial markets are introduced. Therefore the introduction of pension programs both decreases fertility and, subsequently, puts the sustainability of the welfare state in trouble.
机译:本文展示了一种技术或任何允许代理商将财富转移到未来生育控制的账户的承诺。如果只存在家庭内部市场,均衡率高于介绍简单的福利国家或金融市场时。因此,养老金计划的引入都降低了生育率,随后,将福利国家的可持续性陷入困境。

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