Social Security and Family Support

Social Security and Family Support

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Article ID: iaor201521983
Volume: 47
Issue: 1
Start Page Number: 115
End Page Number: 143
Publication Date: Feb 2014
Journal: Canadian Journal of Economics/Revue canadienne d'conomique
Authors: ,
Keywords: government, behaviour, social
Abstract:

This paper shows how the role of the market, the state and the family in providing old‐age support has evolved over time with changes in factors such as the reliability and the effectiveness of family support, the interest rate, the cost of public funds, and earning inequality. Agents with different productivity vote over the size of a Beveridgian pension system. When children assistance is certain, agents may rely exclusively on family and prefer no pension. However, when the size and the probability of family generosity decrease, social security is more likely to emerge.

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