This paper documents a set of facts about the dramatic decline in birth rates in the United States between 2007 and 2020 and explores possible explanations. The overall reduction in the birth rate reflects declines across many groups of women, including women who differ by race and ethnicity,...

This paper documents how the COVID-19 pandemic in the U.S. affected birth rates. We review the economics of fertility, describing the evidence that would predict a COVID baby bust. We then use Vital Statistics birth data to estimate the size of that bust and its rebound, for the country as a...