This paper provides a unified theory of the economic and demographic transition. Individualsmake optimal decisions about fertility, education of their children and the type and intensity ofthe investments in their own education. These decisions are affected by different dimensionsof mortality...

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 decisions are affected by different dimensions of mortality...