Fertility and social security
By: Michele Boldrin, Mariacristina De Nardi, and Larry E. Jones.
Contributors: De Nardi, Mariacristina.; Jones, Larry E.
Series: Federal Reserve Bank of Minneapolis, Research Department staff report ;; 359; Staff report (Federal Reserve Bank of Minneapolis. Research Dept. : Online) ;; 359.
Publisher: Federal Reserve Bank of Minneapolis
Published: 2005
Place of publication: [Minneapolis, Minn.]
Language: eng
Format: Electronic resource
Subjects: Fertility, Human -- Mathematical models.; Social security -- Mathematical models.
Description: "The data show that an increase in government provided old-age pensions is strongly correlated with a reduction in fertility. What type of model is consistent with this finding? We explore this question using two models of fertility: one by Barro and Becker (1989), and one inspired by Caldwell (1978, 1982) and developed by Boldrin and Jones (2002).In Barro and Becker's model parents have children because they perceive their children's lives as a continuation of their own.In Boldrin and Jones' framework parents procreate because children care about their parents' utility, and thus provide them with old-age transfers.The effect of increases in government provided pensions on fertility in the Barro and Becker model is very small, whereas the effect on fertility in the Boldrin and Jones model is sizeable and accounts for between 55 and 65% of the observed Europe-U.S.fertility differences both across countries and across time"--Federal Reserve Bank of Minneapolis web site.
Notes: Also available in print.
Includes bibliographical references.
Title from PDF file as viewed on 3/25/2005.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.