This paper analyses the effect of federalism on fertility and growth. In a model with human capital accumulation and … endogenous fertility, two regimes of education finance are compared: central and local education. Using numerical simulation, I … find that local education finance yields higher growth at the price of increased inequality. Aggregate fertility may be …

In a life-cycle dynastic family model with endogenous fertility, labor-leisure, and accumulations of human and physical … externality. Compared with the social optimum, such externality causes higher fertility and less parental time and expenditure … excessive fertility and under-investment of parental expenditure in child human capital. By calibrating the laissez-faire model …