Tradable permits are now widely used to control pollution. We investigate the implications of setting up such a system in another area - population control -, either domestically or at the global level. We first generalize the framework with both tradable procreation allowances and tradable...

Tradable permits are now widely used to control pollution. We investigate the implications of setting up such a system in another area population control, either domestically or at the global level. We first generalize the framework withboth tradable procreation allowances and tradable...

Tradable permits are now widely used to control pollution. We investigate the implications of setting up such a system in another area – population control –, either domestically or at the global level. We first generalize the framework with both tradable procreation allowances and tradable...

Tradable permits are now widely used to control pollution. We investigate the implications of setting up such a system in another area – population control – either domestically or at the global level. We first generalize the framework with both tradable procreation allowances and tradable...

This study finds that China's one-child policy (OCP), one of the most extreme forms of birth control in recorded history, has amplified economic inequality across generations in China since its introduction in 1979. Poor Chinese families, whose fertility choices are less constrained by the OCP...

From the canonical model of Becker onward, models of population dynamics have been based on assumptions which fit the family structure of developed countries. The aim of this paper is to develop a framework that fits the family structure of poor countries. The building blocks of the model...

A large number of pairs of countries exhibit a dynamic pattern in which: (i) Fertility in both countries declines across time; (ii) Initially one country has higher fertility and lower per-capita income compared to the other; (iii) In time, as per-capita income converges, fertility rates in the...

This paper explores the implications of Unified Growth Theory for the origins of existing differences in income per capita across countries. The theory sheds light on three fundamental layers of comparative development. It identifies the factors that have governed the pace of the transition from...

We study the implications of differential fertility on cross-sectional inequality in a canonical model of the intergenerational transmission of capital. Our main theoretical result shows that, with differential fertility, there exist stable atomless steady state distributions of capital where...

This article studies socially optimal allocations, from the point of view of a benevolent social planner, in environments characterized by fixed resources, endogenous fertility, and full information. Individuals in our environment are fully rational and altruistic toward their descendants. Our...