friction we investigate is related to the ownership of children. If parents have no claim on their children's income, then the …) model with fertility choice and altruism, and model ownership by introducing a minimum constraint on transfers from parents … failure that may lead to inefficiently low equilibrium fertility and therefore to a need for government intervention. The …

Boldrin and Jones' framework parents procreate because the children care about their old parents' utility, and thus provide … Becker model parents have children because they perceive their children's lives as a continuation of their own. In the … fertility. What type of model is consistent with this finding? We explore this question using two models of fertility, the one …

representative outcomes for a typical generation and across generations. We then estimate expected utility for generations based on … simplifying assumptions and incorporate these expected utility calculations in an overall social welfare measure. Using a …

not work at all, time spent with children, and child-related expenditures, we find that income risk impacts skill …This paper studies the mechanisms and the extent to which parental wage risk passes through to children's skill … development. Through a quantitative dynamic labor supply model in which two parents choose whether to work short or long hours or …

two births in families with at least two children, to estimate the effect of additional children on parents' labor supply … differences in the ages of children whose birth was caused by the instruments. The estimates imply that the labor supply …

There is growing concern about a decline in the total fertility rate worldwide, but nowhere is the concern greater than … generate incentives for individuals to reduce not just the fertility rate within families, but also the incentive to form … fertility rates. Our results show that the impact of social security on these variables has been non-trivial. Our calibrated …

the downward trends in family formation and fertility worldwide, and for a slowdown in the rates of savings and economic …