Why do people have kids in developed societies? We propose an empirical test of two alternative theories - children as consumption" vs. investment" good. We use as a natural experiment the Italian pension reforms of the 90s that introduced a clear discontinuity in the treatment across workers....

We examine the extent to which financial sanctions imposed by Germany through its European Union and United Nations commitments cause collateral damage on Germany's trade in goods and services. Financial sanctions reduce Germany's inflows and outflows of financial assets, as well as imports and...

Heights and body mass index values (BMIs) are now well accepted measures that reflect net nutrition during economic development and institutional change. This study uses 19th century weights instead of BMIs to measure factors associated with current net nutrition. Across the weight distribution...

When traditional methods for measuring economic welfare are scarce or unreliable, heights and BMIs are now well accepted measurements that represent biological conditions during economic development. Weight, after controlling for height, is an alternative measure to BMI for current net...

Much has been written about the modern obesity epidemic, and historical BMIs are low compared to their modern counterparts. However, interpreting BMI variation is difficult because BMIs increase when weight increases or when stature decreases, and the two have different implications for human...

According to empirical studies, the life cycle of labor supply volatility exhibits a U-shaped pattern. This may lead to the conclusion that demographic change induces a drop in output volatility. We present an overlapping generations model that replicates the empirically observed pattern and...

We use duration models on a well-known historical dataset of more than 15,000 families and 60,000 births in England for the period 1540–1850 to show that the sampled families adjusted the timing of their births in accordance with the economic conditions as well as their stock of dependent...

We provide evidence that lower fertility can simultaneously increase income per capita and lower carbon emissions, eliminating a trade-off central to most policies aimed at slowing global climate change. We estimate the effect of lower fertility on carbon emissions accounting for the fact that...

The historical increase in emissions is for one-fourth attributable to the growth of emissions per person, whereas three-fourths are due to population growth. This striking evidence is not represented in the majority of climate-economic studies, which mostly neglect the environmental...