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currently has the lowest total fertility rate in the world. In this paper, we propose a theory with status externalities and … endogenous fertility that connects these two facts. Using a quantitative heterogeneous-agent model calibrated to Korea, we find … that fertility would be 16% higher in the absence of the status externality and that childlessness in the poorest quintile …
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The strong link between parental socioeconomic status (SES) and children's success in school is well established. However, mechanisms that underpin this association remain a major issue in current research on social inequality. Using data from the Families in Germany Study and structural...
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The demographic transition can affect the equilibrium real interest rate through three channels. An increase in longevity - or expectations thereof - puts downward pressure on the real interest rate, as agents build up their savings in anticipation of a longer retirement period. A reduction in...
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fertility model that generates an endogenous demographic transition by means of distinguishing between female and male labor. We …
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