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been a marked trend towards lower fertility and higher female labor force participation. However, change did not occur in a … uniform fashion: during the post-war Baby Boom, fertility rates increased substantially, until the long-term downward trend …
Persistent link: https://www.econbiz.de/10005051270
We examine the effects of changes of government provided old age pensions on fertility choices in the context of two … models of fertility, the one by Barro and Becker (1989), and the one inpired by Caldwell and developed by Boldrin and Jones … public pension system on fertility in the Barro and Becker model depends on whether child rearing costs are primarily in …
Persistent link: https://www.econbiz.de/10005085434
Through marriage, individuals can share some risks that would otherwise be uninsurable. In this paper, we ask how much idiosyncratic income risk can be diversified away through marriage contracts alone versus how much risk there remains for public unemployment insurance programs to alleviate. We...
Persistent link: https://www.econbiz.de/10005069240
human capital accumulation, non-separable preferences of females and child care costs on females life-cycle fertility and …, labor force participation and fertility decisions is estimated. In that model, experience on the job raises future wages … policy simulations which shows that human capital accumulation is the most important determinant of life-cycle fertility …
Persistent link: https://www.econbiz.de/10005090749
A large number of pairs of countries exhibit a dynamic pattern in which: (i) Fertility in both countries declines … across time; (ii) Initially one country has higher fertility and lower per-capita income compared to the other; (iii) In time …, as per-capita income converges, fertility rates in the poorer country become lower than in the richer one. This paper …
Persistent link: https://www.econbiz.de/10005048011
This paper incorporates fertility and altruism into the ``value of life'' framework. Two dimensions of fertility and … fertility, life expectancy gains have a twofold effect: they directly increase utility via increased survival probabilities, and … valuations when fertility choices are endogenous and individuals are altruistic towards their offspring. Calculations using U …
Persistent link: https://www.econbiz.de/10005069455
We explore the accumulation of assets in the presence of limited insurance against idiosyncratic shocks, borrowing constraints and endogenous labor productivity due to the so-called "nutrition curve". We show that in such an environment, any stationary equilibrium is characterized by a polarized...
Persistent link: https://www.econbiz.de/10004977945
We examine the possibility of a Pareto-improving pay-as-you-go social security system, using an ex-ante welfare criterion. Our objective is to identify the conditions under which a suitably designed pay-as-you-go social security system is welfare improving, when markets are complete and...
Persistent link: https://www.econbiz.de/10005090885
In this paper we present circumstances under which the possibility of high leverage can lead to widespread default and national crises. In models with incomplete markets, default and production, there will almost always be a mismatch between firm output across states of nature and asset...
Persistent link: https://www.econbiz.de/10005090894
Persistent link: https://www.econbiz.de/10005051315