transfers to their own parents in order to instill appropriate preferences in their children. This generates a derived demand … for grandchildren since potential grandparents will be treated better by their adult children if the latter have their own … children to whom to demonstrate the appropriate behavior. Empirical work, based on waves 1 and 2 of the National Survey of …

reduction in parental time devoted to children, which modifies their human capital accumulation process. We show that the result … critically depends on the assumptions on the altruistic motives behind the choice of devoting time to children. …