This paper provides a unified treatment of externalities associated with fertility and human capital accumulation as … part through education. In addition to the customary externality source associated with a change in average fertility rate … alone entails a higher fertility rate and a lower ratio of high- to low-ability children, as compared to using education …

This study identifies the causal effect of pension generosity on women’s fertility behavior. It capitalizes on Brazil … age by 10% in the short-run. Completed fertility declines by 1.3 children within 20 years after the reform, reducing the … contribution base of the Pay-As-You-Go pension system in the long-run. The fertility response is strongest at higher birth parities …

future development under current rules. Building on lessons from recent pension theory, we also discuss options for further …

fertility setting. In the model of a small open economy, higher fertility is associated with a reduction of lifetime labor … supply. The optimum share of fertility-related pensions is always below unity, but generally positive. The former is true … demonstrated that child allowances are equivalent to fertility-related pensions as instruments to achieve an efficient allocation. …

fertility model that generates an endogenous demographic transition by means of distinguishing between female and male labor. We …