An Analysis of Pension Benefit for Old Generation in the Model Economy with Income Inequality in Young Generation

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This study examines child-care policies. Concretely, this study considers three types of child-care policies: child allowance, the subsidy for education and the subsidy for child-care service, and examines how these child-care policies affect on the fertility, human capital accumulation (labor productivity), labor participation rate and pension benefit in future. As result, child allowances can not always raise the fertility and pension benefit. Therefore, this study shows that the subsidy for education and the policy to facilitate to access the child-care service are needed to raise the fertility and pension benefit.