endogenous fertility. In the neoclassical model, habits modify the economy's growth rate and generate transitional dynamics in … fertility; station- ary income per capita is associated with either increasing or decreasing population and output, depending on … fertility: the trade-off between second-period consumption and spending for bequests prompts agents to decrease fertility in …

burden on the young, inducing them to have fewer children. This vicious cycle between population aging and the undersupply of … ; Generational Conflict ; Fertility ; Growth …