immature phase during which there is body growth but no fertility, and a later mature phase with fertility but no growth, as … returns on a capital investment, but not on fertility, or the intrinsic population growth rate. During the mature phase, time … preference depends on the costliness of fertility, and on endogenous survival and intrinsic growth rate, and not at all on body …

The U.S. population is aging. We examine whether immigration causally affects the likelihood that the U.S.-born elderly … live in institutional settings. Using a shift-share instrument to identify exogenous variation in immigration, we find that … percent) less likely to be living in an institution than would have been the case if immigration had remained at 1980 levels …