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Social Security Reform and Childcare Support

Author

Listed:
  • Oshio, Takashi
  • 小塩, 隆士
  • オシオ, タカシ

Abstract

This paper examines how social security reform and childcare support affect fertility and social welfare, based on a simple overlapping generations model with endogenous fertility. In an open economy with no altruism, introducing a childcare subsidy is the second-best solution under an aging population. However, in a closed economy and/or assuming the household's altruistic bequests, childcare support is not necessarily desirable and the case that curtailing a pay-as-you-go social security system reduces social welfare cannot be ruled out. In addition, we show that social security reform and childcare have different effects on the transition process to a new steady state.

Suggested Citation

  • Oshio, Takashi & 小塩, 隆士 & オシオ, タカシ, 2002. "Social Security Reform and Childcare Support," Discussion Paper 119, Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University.
    • Handle: RePEc:hit:piedp1:119
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    File URL: https://hermes-ir.lib.hit-u.ac.jp/hermes/ir/re/14401/pie_dp119.pdf
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    References listed on IDEAS

    as
    1. Gary S. Becker & Kevin M. Murphy & Robert Tamura, 1994. "Human Capital, Fertility, and Economic Growth," NBER Chapters, in: Human Capital: A Theoretical and Empirical Analysis with Special Reference to Education, Third Edition, pages 323-350, National Bureau of Economic Research, Inc.
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    More about this item

    Keywords

    Social security; childcare support; fertility; bequests;
    All these keywords.

    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • H31 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Household

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