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The Effect of Public Education Investment and Social Security on Fertility Rate and Education Level
Pages: 133-153
Year: Issue:  3
Journal: Nankai Economic Studies

Keyword:  Social SecurityFertility RateEducationGrowth;
Abstract: We apply the over-lapping generation model to explore the effect of education and social security expenditure on fertility rate,education level and growth.Fiscal expenditure financed by taxing on individual income is allocated between education and social security,which determines social security expenditure together with tax rate.As a benchmark,we find that under private education,a higher tax rate decreases the fertility,while education level per capita remains unchanged.Under public education,tax rate affects fertility through the same channel,but education level increases on the contrary.Besides,an inclination of expenditure towards social security will not surely decrease education level,which depends on the percentage of that in the total expenditure.These conclusions are confirmed by an empirical research on fertility rate,social security expense and education investment of countries around the world from 2000 to 2012.
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