Because the tax savings of having a child are realized only if the birth takes place before midnight, January 1, the incentives for the "marginal" birth are substantial. Using a sample of children from the National Longitudinal Survey of Youth, we find that the probability that a child is born...

Many states require children to reach five years of age by a specified calendar date in order to begin kindergarten. We use birth certificate records from 1999 to 2004 to assess whether parents systematically time childbirth before school cutoff dates to capture the option value of sending their...