We examine the effects of changes of government provided old age pensions on fertility choices in the context of two models of fertility, the one by Barro and Becker (1989), and the one inpired by Caldwell and developed by Boldrin and Jones (2002). In the Barro and Becker model parents have...

The data show that an increase in government provided old-age pensions is strongly correlated with a reduction in fertility. What type of model is consistent with this finding? We explore this question using two models of fertility: one by Barro and Becker (1989), and one inspired by Caldwell...