. . . "Ageing population in the developed countries poses a serious threat to social security system in the current pay-as-you-go form. At the same time, however, most of existing models have worked only with exogenously imposed fertility decisions. We analyze a life-cycle model of social security with endogenous fertility. We develop an overlapping generations model with altruistic individuals that differ in assets, income, human capital and life-expectancy. We study the effect of endogenous fertility on the feasibility of social security, compare pay-as-you-go and fully-funded systems when parents choose number of children optimally. We analyze the effects of different government policies on feasibility, welfare, efficiency and distribution of resources."@en . "2"^^ . . "2"^^ . "0"^^ . . "Model d\u016Fchodov\u00E9 reformy s endogenn\u00ED fertilitou"@cs . "2007-01-01+01:00"^^ . . "2009-12-31+01:00"^^ . . "0"^^ . . . . . "415"^^ . . "Social security, fertility, macroeconomics, life cycle, general equilibrium"@en . "Social Security with Endogenous Fertility"@en . "415"^^ . "St\u00E1rnut\u00ED populace v rozvinut\u00FDch zem\u00EDch p\u0159edstavuje v\u00E1\u017Enou hrozbu d\u016Fchodov\u00E9mu syst\u00E9mu zalo\u017Een\u00E9mu na pr\u016Fb\u011B\u017En\u00E9m financov\u00E1n\u00ED. Z\u00E1rove\u0148 ale v\u011Bt\u0161ina st\u00E1vaj\u00EDc\u00EDch model\u016F pou\u017E\u00EDv\u00E1 exogenn\u011B ur\u010Denou porodnost\u00ED. Analyzujeme model reformy penzijn\u00EDho syst\u00E9mu v n\u011Bm\u017E se dom\u00E1cnosti rozhoduj\u00ED o po\u010Dtu d\u011Bt\u00ED i na z\u00E1klad\u011B toho, jak\u00FD syst\u00E9m duchodov\u00E9ho poji\u0161ten\u00ED je vyu\u017E\u00EDv\u00E1n. Sestavujeme genera\u010Dn\u00ED model s \u017Eivotn\u00EDmi cykly a altruisick\u00FDmi \u010Dleny dom\u00E1cnost\u00ED, kte\u0159\u00ED se li\u0161\u00ED ve v\u00FD\u0161i majetku, p\u0159ijmu, lidsk\u00E9ho kapit\u00E1lu a p\u0159edpokl\u00E1dan\u00E9 doby do\u017Eit\u00ED. Zkoum\u00E1me, jak\u00FD efekt m\u00E1 endogenn\u00ED fertilita na financovatelnost penzijn\u00EDho syst\u00E9mu, a porovn\u00E1v\u00E1me pr\u016Fb\u011B\u017En\u00FD penzijn\u00ED syst\u00E9m (pay-as-you-go) se syst\u00E9mem individu\u00E1ln\u00EDho penzijn\u00EDho spo\u0159en\u00ED (fully funded), za p\u0159edpokladu, \u017Ee rozhodov\u00E1n\u00ED dom\u00E1cnost\u00ED o po\u010Dtu d\u011Bt\u00ED je optim\u00E1ln\u00ED. Porovn\u00E1vame oba duchodov\u00E9 syst\u00E9my a vliv vl\u00E1dn\u00ED politiky z pohledu financovatelnosti d\u016Fchodov\u00E9ho syst\u00E9mu, blahobytu, efektivity a distribuce zdroj\u016F ve spole\u010Dnosti."@cs . "1"^^ .