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

Author

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  • Mizuki Komura
  • Hikaru Ogawa

Abstract

The effects of pension policies on fertility have been examined in the overlapping-generations (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.

Suggested Citation

  • Mizuki Komura & Hikaru Ogawa, 2018. "Pay-As-You-Go Pension, Bargaining Power, and Fertility," FinanzArchiv: Public Finance Analysis, Mohr Siebeck, Tübingen, vol. 74(2), pages 235-259, June.
    • Handle: RePEc:mhr:finarc:urn:sici:0015-2218(201806)72:2_235:ppbpaf_2.0.tx_2-e
    DOI: 10.1628/fa-2018-0003
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    Citations

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    Cited by:

    1. Oliwia Komada, 2023. "Raising America's future: search for optimal child-related transfers," GRAPE Working Papers 84, GRAPE Group for Research in Applied Economics.
    2. Fernandes, Inês & Schmidt, Tobias, 2021. "Household bargaining, pension contributions and retirement expectations: Evidence from the German Panel on Household Finances," Discussion Papers 44/2021, Deutsche Bundesbank.

    More about this item

    Keywords

    pension; fertility; longevity; marital bargaining;
    All these keywords.

    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • J12 - Labor and Demographic Economics - - Demographic Economics - - - Marriage; Marital Dissolution; Family Structure
    • J13 - Labor and Demographic Economics - - Demographic Economics - - - Fertility; Family Planning; Child Care; Children; Youth

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