The authors build a model of child labor and study its implication for welfare and fertility. Assuming there is a trade-off between child labor and human capital accumulation, we derive conditions under which child labor is socially inefficient. Even if parents are altruistic, child labor may...

We built a model of child labor and study its implications for welfare and fertility.

The autors study the implications of the trade-off between child quality and child quantity for the efficiency of the rate of population growth. They show that if quantity and quality are inversely related then, even in the case of full altruism within the family, population growth is...