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This paper provides a new explanation for the narrowing and reversal of the gender education gap. It highlights the indirect effect of returns to human capital on parents' preferences for sons and the resulting demand for children and education. We assume that parents maximize the full income of...
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II. We develop a quantitative dynamic general equilibrium model with endogenous fertility and female labor … well as patterns for age-specific labor-force participation and fertility rates that are consistent with U.S. data …. -- Fertility ; baby boom ; World War II ; female labor-force participation …
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