Cremer, Helmuth; Gahvari, Firouz; Pestieau, Pierre - CESifo - 2009
This paper provides a unified treatment of externalities associated with fertility and human capital accumulation as … deterministically chosen but the children’s future ability is in part stochastic, in part determined by the family background, and in … part through education. In addition to the customary externality source associated with a change in average fertility rate …