Banerjee, Abhijit; Meng, Xin; Porzio, Tommaso; Qian, Nancy - C.E.P.R. Discussion Papers - 2014
relationship between aggregate fertility and household savings. First, we document that parents perceive children as an important … source of old-age support and that in partial equilibrium, increased fertility lowers household savings. Then, we construct … equilibrium effects can substantially overstate the effect of a change in aggregate fertility on households savings. …