Hosseini, Roozbeh; Jones, Larry E.; Shourideh, Ali - In: Journal of Economic Theory 148 (2013) 5, pp. 1806-1840
We use a Barro–Becker model of endogenous fertility, in which parents are subject to idiosyncratic shocks that are … inequality in the long run. The planner uses the trade-off between family size and future consumption and leisure, to provide … immiseration in consumption. We also discuss the implications of the model on the long run properties of family size in the optimal …