fertility, both desired and realized, as a central pathway through which the relationship has been historically theorized and … independently from fertility decline. Finally, we assess the state and quality of evidence of these relationships and propose …

Phelpsís (1961) Golden Rule states an unambiguous relationship between optimal capital intensity and fertility: a rise … in fertility decreases the optimal capital intensity, because a higher fertility increases the investment required to … having distinct fertility behaviors. We derive the optimal accumulation rule in that framework, and we show that, unlike what …