We examine how child-allowance policies with pay-as-you-go systems affect fertility and growth rates. A current method to subsidize child-rearing households, which determines benefits according to familyfs number of children, increases the fertility rate but decreases the growth rate. This study...

Do we have too few children? We intend to address this question. In developed countries, the fertility rate has declined since WWII. This may cause a slowdown in the growth of GDP in developed countries. However, important factors for the well-being of individuals are per capita variables, like...