Cremer, Helmuth; Gahvari, Firouz; Pestieau, Pierre - In: CESifo economic studies : CESifo, a joint initiative of … 57 (2011) 2, pp. 332-348
This article models a two-period overlapping generations economy in the steady state where the realization of the quantity/quality number of children depends on an initial investment in children and on a random shock. It shows that the implementation of the first-best allocation, in which the...
