Momota, Akira; Horii, Ryo - Volkswirtschaftliche Fakultät, … - 2011
generations model, where each agent lives for four periods and works for two periods. We show that delayed childbearing not only … aggregate saving rate to fluctuate, which leads to cycles in the capital-labor ratio. When all agents delay childbearing, we … decline. When a fraction of agents delay childbearing, it has differential welfare effects on agents depending on their …