Please use this identifier to cite or link to this item: https://hdl.handle.net/1959.11/3680
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dc.contributor.authorHo, Chong Munen
dc.contributor.authorDollery, Brian Edwarden
dc.date.accessioned2009-12-08T14:50:00Z
dc.date.issued2006en
dc.identifier.citationAustralian Economic Papers, 45(3), p. 179-187en
dc.identifier.issn0004-900Xen
dc.identifier.urihttps://hdl.handle.net/1959.11/3680en
dc.description.abstractPopulation ageing is now an established demographic characteristic of many economies. Economists working in the endogenous growth theory tradition have sought to model the relationship between public pensions, financed on a 'Pay-As-You-Go' basis, and the growth in per capita incomes. The resultant intergenerational wealth redistribution from young to older people seems to decrease private savings, diminish capital accumulation, and lower the growth of per capita incomes. The underlying transmission mechanism appears to be a crowding out effect in private capital markets contingent upon the introduction of public pension systems. A growing literature exists on the interrelationships between public pension schemes, fertility rates and endogenous growth. Following Wigger's (1999) pioneering overlapping generations endogenous growth model, we extend this model to examine the effects of a savings subsidisation system on the rate of per capita income growth, fertility and voluntary intrafamily wealth transfers, where parents view children both as an insurance good and a consumption good. Moreover, children care about the consumption levels of their parents. An increase in contributions to a savings subsidised public pension scheme will crowd out private intergenerational transfers from the young to the old and thereby negate the usefulness of children as an insurance good.en
dc.languageenen
dc.publisherBlackwell Publishing Asiaen
dc.relation.ispartofAustralian Economic Papersen
dc.titleA savings subsidisation system in a model of endogenous fertility and endogenous growth: An extension of Wigger (1999)en
dc.typeJournal Articleen
dc.identifier.doi10.1111/j.1467-8454.2006.00286.xen
dc.subject.keywordsEconomic Development and Growthen
local.contributor.firstnameChong Munen
local.contributor.firstnameBrian Edwarden
local.subject.for2008140202 Economic Development and Growthen
local.subject.seo2008910110 Taxationen
local.profile.schoolUNE Business Schoolen
local.profile.emailbdollery@une.edu.auen
local.output.categoryC1en
local.record.placeauen
local.record.institutionUniversity of New Englanden
local.identifier.epublicationsrecordpes:3374en
local.publisher.placeMelbourne, VIC, Australiaen
local.format.startpage179en
local.format.endpage187en
local.peerreviewedYesen
local.identifier.volume45en
local.identifier.issue3en
local.title.subtitleAn extension of Wigger (1999)en
local.contributor.lastnameHoen
local.contributor.lastnameDolleryen
dc.identifier.staffune-id:bdolleryen
local.profile.roleauthoren
local.profile.roleauthoren
local.identifier.unepublicationidune:3770en
dc.identifier.academiclevelAcademicen
local.title.maintitleA savings subsidisation system in a model of endogenous fertility and endogenous growthen
local.output.categorydescriptionC1 Refereed Article in a Scholarly Journalen
local.description.statisticsepubsVisitors: 158<br />Views: 160<br />Downloads: 0en
local.search.authorHo, Chong Munen
local.search.authorDollery, Brian Edwarden
local.uneassociationUnknownen
local.year.published2006en
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