This study examines households’ fertility variations in response to expected permanent shifts in the return to education. Wage premiums measure␣the return to education because their long-run movements are driven by factors exogenous to the fertility process. The results indicate that high...

This paper shows that financial intermediation can influence fertility and labor allocation decisions by raising market wages. The increase in wages induces some households to abandon "traditional" labor intensive methods of production managed at the household level and supply labor to "modern"...