This paper examines the determinants of fertility, using panel data for twenty-seven European countries. We employ panel co-integration to estimate fertility as function of demographic and economic variables. We show that low fertility in most industrialized countries in Europe is due to low...

Over the past decades, due to a combination of declining fertility rates and rising life expectancies, most industrialized countries have experienced aging populations and low numbers of young populations that may pose economic problems in the future. This paper investigates the relationship...