failure that may lead to inefficiently low equilibrium fertility and therefore to a need for government intervention. The …) model with fertility choice and altruism, and model ownership by introducing a minimum constraint on transfers from parents … transfer floor is binding, fertility choices are inefficient. We show how this inefficiency relates to dynamic inefficiency in …

capital, endogenous fertility and positive spillovers from average human capital. Such spillovers reduce human capital … investment but raise fertility from their social optimum. We first characterize the social optimum with a non-convex feasible set …

fertility and greater parental investment in children; (ii) a rise in married female labor-force participation; (iii) a …

whole. Research has focused on the effect postponing fertility has on the labor market outcomes for mothers and on the total … force participation and wages but may have negative effects on overall fertility, especially in the absence of supportive …

In this Paper, we study the role of subsidies to fertility in ensuring the political viability of unfunded social … older generations, and in turn choose current levels of fertility subsidies, and future levels of social security benefits … converge to a steady state lower than simple extrapolation of current trends would imply, and fertility will rebound with the …