Pensions and fertility: back to the roots
| Autor: | Robert Fenge, Beatrice Scheubel |
|---|---|
| Rok vydání: | 2016 |
| Předmět: |
Economics and Econometrics
Labour economics Ex-ante 060106 history of social sciences media_common.quotation_subject 05 social sciences Demographic transition Internal rate of return Fertility 06 humanities and the arts Pension system 0502 economics and business Pension insurance Public pension Economics 0601 history and archaeology 050207 economics Demography media_common Social policy |
| Zdroj: | Journal of Population Economics. 30:93-139 |
| ISSN: | 1432-1475 0933-1433 |
| DOI: | 10.1007/s00148-016-0608-x |
| Popis: | Fertility has long been declining in industrialised countries and the existence of public pension systems is considered as one of the causes. This paper provides detailed evidence on the mechanism by which a public pension system depresses fertility, based on historical data. Our theoretical framework highlights that the effect of a public pension system on fertility is ex ante ambiguous while its size is determined by the internal rate of return of the pension system. We identify an overall negative effect of the introduction of pension insurance on fertility using regional variation across 23 provinces of Imperial Germany in key variables of Bismarck’s pension system, which was introduced in Imperial Germany in 1891. The negative effect on fertility is robust to controlling for the traditional determinants of the first demographic transition as well as to other policy changes. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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