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Fertility is a main driver and outcome of long-term growth. Yet, fertility may not only interact with the level of … income but also with its volatility. In pre-modern economies where formal social security was largely absent, fertility … transition in the United States covering the period 1870 to 1930 and explore whether variation in fertility among American …
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This paper uses a model with overlapping generations to demonstrate that human capital accumulation can potentially attenuate factor price movements in response to birth rate shocks. Specifically, we show that if education spending per child is inversely related to the size of the generation,...
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Considering the investment in education as uncertain financial decision making we modify the short-cut method of calculating rates of return to education by incorporating the risk premium. Recognizing that market risk isn't the only factor affecting returns, we estimate the returns to education...
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