growth, focusing on the effects of declining mortality. Unlike the existing literature, this paper stresses the role of … precautionary demand for children. As the mortality rate and thus uncertainty falls, this demand decreases. Furthermore, lower … mortality encourages educational investment in children. The key result is that this empirically observed quality-quantity trade …

This paper provides a unified theory of the economic and demographic transition. Individuals make optimal decisions … about fertility, education of their children and the type and intensity of the investments in their own education. These … decisions are affected by different dimensions of mortality and technological progress which change endogenously during the …

trends, we implement an overlapping generations model with heterogeneity by level of education in which individuals optimally …