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 …

In this chapter we revisit the relationship between income and fertility. There is overwhelming empirical evidence that … fertility is negatively related to income in most countries at most times. Several theories have been proposed in the literature …