Fertility rate and child care policies in a pension system

This paper presents an examination of two child-care policies–a child allowance and a subsidy for education investment–and demonstrates how each policy affects fertility and the human-capital growth rate. This paper presents the following results. A child allowance decreases the human-capital growth...

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Bibliographic Details
Published in:Economic analysis and policy 2014-03, Vol.44 (1), p.122-127
Main Authors: Yasuoka, Masaya, Miyake, Atsushi
Format: Article
Language:English
Subjects:
Child allowance
Education investment subsidy
Endogenous growth
Fertility
Human capital
Pay-as-you-go pension
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Summary:This paper presents an examination of two child-care policies–a child allowance and a subsidy for education investment–and demonstrates how each policy affects fertility and the human-capital growth rate. This paper presents the following results. A child allowance decreases the human-capital growth rate. However, a child allowance does not always increase fertility. Moreover, a subsidy for education investment increases the human-capital growth rate. However, a subsidy for education investment can raise fertility based on parametric conditions. Results of our analyses underscore the importance of considering additional effects of a pension system when providing child-care policies.
ISSN:0313-5926
DOI:10.1016/j.eap.2014.01.007