This paper explores the properties of the notions of A-efficiency and P-efficiency, proposed by Golosov, Jones and Tertilt (Econometrica, 2007), to evaluate allocations in a general overlapping generations setting in which fertility choices are endogenously selected from a continuum and any two...

We take advantage of recent advances in behavioral genetics to revisit a classic question in economics: how do parents respond to children's endowments and to differences in endowments among siblings? Parental investment decisions depend both on parental preferences regarding inequality in the...

We set up an overlapping generations model with endogenous fertility to study pensions policies in an ageing economy. We show that an increasing life expectancy may not be detrimental for the economy or the pension system itself. On the other hand, conventional policy measures, such as...

Previous research has shown that birth order affects outcomes such as educational achievements, IQ and earnings. The mechanisms behind these effects are, however, still largely unknown. In this paper, we examine birth-order effects on health, and whether health at young age could be a...

Previous research has established that birth order affects outcomes such as educational achievements, IQ and earnings. The mechanisms behind these effects are, however, still largely unknown. In this paper, we examine birth-order effects on health, and whether health at young age could be a...

In this paper, we analyse the effects of demographic change on a PAYG pension system, financed with a defined contribution scheme. In particular we examine the relationship between retirement, fertility and pensions in a three-period overlapping generations model. We focus on both the case of...

Since the seminal work of Becker, the analysis of endogenous fertility has been based on the trade-off faced by parents between the quantity and the quality of their children. In order to have an interior solution, the model assumes that in case children work, still they get positive income from...

This paper analyzes the possibility of improving the efficiency of child benefit programs in an overlapping generations economy that has endogenous fertility and large government debt levels. We derive the conditions for this improvement using Representative-Consumer and...

In a standard OLG model of a small open economy with logarithmic utility and endogenous fertility we show that the reversion of the relationship between fertility and wages (i.e. a transition from the Malthusian to the Modern fertility behaviour) may be possible in presence of intergenerational...

We show that coordination failures may be part of an explanation for the demographic differences between rich and poor countries and their differing attitudes towards the use of child labor. Our analysis is carried out within a two-period, general equilibrium model with endogenous fertility,...