Why do people have kids in developed societies? We propose an empirical test of two alternative theories - children as consumption" vs. investment" good. We use as a natural experiment the Italian pension reforms of the 90s that introduced a clear discontinuity in the treatment across workers....

Why do people have kids in developed societies? We propose an empirical test of two alternative theories — children as “consumption” vs. “investment” good. We use as a natural experiment the Italian pension reforms of the 90s that introduced a clear discontinuity in the treatment...

This paper documents the fundamental changes in family formation that took place in Europe during the last two decades of the twentieth century, as well as some possible explanations for these changes. First, European youth have postponed key demographic events, and the latest-late pattern of...

The emergence of old-age social security has been linked to general fertility decline, and in recent years pension reforms have emerged as a response to the challenges of population ageing, in turn partially a consequence of fertility decline. Understanding the link between social security and...

In this paper we conduct descriptive aggregate analyses to revisit the relation between low and lowest-low period fertility on the one, and cohort fertility and key fertility-related behaviors---such as leaving the parental home, marriage and female labor force participation---on the other side....

Why do people have kids in developed societies? We propose an empirical test of two alternative theories - children as 'consumption' vs. 'investment' good. We use as a natural experiment the Italian pension reforms of the 90s that introduced a clear discontinuity in the treatment across workers....

We study the link between institutional arrangements and fertility, focusing on how institutions affect the nexus between partnership formation and fertility. We apply simultaneous hazard models to family and fertility survey data for Germany and Sweden. Our results show a significant presence...

In this paper we discuss trends in the limits to late childbearing, their determinants and potential implications from an empirical long-term perspective. Although the high levels observed in non-contracepting populations have not been reached, fertility in Europe at ages 40+ and 45+ has...

A fundamental reversal of the traditional fertility-development relationship has occurred in highly developed countries so that further socioeconomic development is no longer associated with decreasing fertility, but with increasing fertility. In this paper, we seek to shed light on the...

Why do people have kids in developed societies? We propose an empirical test of two alternative theories — children as “consumption” vs. “investment” good. We use as a natural experiment the Italian pension reforms of the 90s that introduced a clear discontinuity in the treatment...