We examine the dynamic interaction of the population age structure, economic dependency, and fertility, paying … particular attention to the role of intergenerational transfers. In the short run, a reduction in fertility produces a … probabilistic fashion. We show that most highly developed countries have fertility below the rate that maximizes steady state …

developing countries. This paper presents a theoretical model which integrates micro-level decision making about fertility and …

critical for understanding the relationship between aggregate fertility and household savings. First, we document that parents … perceive children as an important source of old-age support and that, in partial equilibrium (PE), increased fertility lowers … aggregate fertility on household savings …

failure that may lead to inefficiently low equilibrium fertility and therefore to a need for government intervention. The …) model with fertility choice and altruism, and model ownership by introducing a minimum constraint on transfers from parents … transfer floor is binding, fertility choices are inefficient. We show how this inefficiency relates to dynamic inefficiency in …

agree on wanting a child. Using newly available data on fertility preferences and outcomes, we show that indeed, babies are … bargaining model of fertility choice and match the model to data from a set of European countries with very low fertility rates …. The distribution of the burden of child care between mothers and fathers turns out to be a key determinant of fertility. A …

There is growing concern about a decline in the total fertility rate worldwide, but nowhere is the concern greater than … generate incentives for individuals to reduce not just the fertility rate within families, but also the incentive to form … fertility rates. Our results show that the impact of social security on these variables has been non-trivial. Our calibrated …

fertility, and increasing longevity (2005-2100). While all three trends contribute to a higher old age dependency ratio …, increasing college attainment has different implications because it increases labor productivity. Decreasing fertility and …

This paper investigates how fertility responds to changes in the price of a marginal child and in household income. We … construct a large, individual-level panel data set of married Israeli women during the period 1999-2005 that contains fertility … subsidy for infra-marginal children). We find a significant and positive price effect on fertility: the mean level of marginal …