Sunde, Uwe; Cervellati, Matteo - Institute for the Study of Labor (IZA) - 2007
This paper provides a unified theory of the economic and demographic transition. Individuals make optimal decisions … about fertility, education of their children and the type and intensity of the investments in their own education. These … formation, little longevity, high child mortality, large fertility and a sluggish income and productivity growth to a modern …