In the last century most countries have experienced both an increase in pension spending and a decline in fertility. We … argue that the interplay of pension generosity and development of capital markets is crucial to understand fertility … children, thus relaxing financial (saving) constraints and reducing fertility. We build a simple two-period OLG model to show …

Study, we identify adults of childbearing age whose fertility was reduced. We find LLF exposure increases the likelihood of …

Study, we identify adults of childbearing age whose fertility was reduced. We find LLF exposure increases the likelihood of …

Study, we identify adults of childbearing age whose fertility was reduced. We find LLF exposure increases the likelihood of …

Since the seminal work of Becker, the dynamics of endogenous fertility has been based on the trade-off faced by parents … upstream, so as to keep fertility endogenous. We do that by adding a negative "sibship size effect" on human capital formation …, the possibility of a jump from a state with high fertility and low income to a state with low fertility and high income …

of it was intended to illuminate issues of compelling policy importance, such as declining fertility and population aging …