Eine Plattform für die Wissenschaft: Bauingenieurwesen, Architektur und Urbanistik
Eine Plattform für die Wissenschaft: Bauingenieurwesen, Architektur und Urbanistik
Optimal life-cycle fertility in a Barro-Becker economy
Abstract Parenthood postponement is a key demographic trend of the last three decades. In order to rationalize that stylized fact, we extend the canonical model by Barro and Becker (Econometrica 57:481–501, 1989) to include two—instead of one—reproduction periods. We examine how the cost structure of early and late children in terms of time and goods affects the optimal fertility timing. Then, we identify conditions that guarantee the existence and uniqueness of a stationary equilibrium with a stationary cohort size. Finally, we examine how the model can rationalize the observed postponement of births, and we highlight two plausible causes: (1) a general rise in the cost of children in terms of goods and (2) a decline in the degree of family altruism.
Optimal life-cycle fertility in a Barro-Becker economy
Abstract Parenthood postponement is a key demographic trend of the last three decades. In order to rationalize that stylized fact, we extend the canonical model by Barro and Becker (Econometrica 57:481–501, 1989) to include two—instead of one—reproduction periods. We examine how the cost structure of early and late children in terms of time and goods affects the optimal fertility timing. Then, we identify conditions that guarantee the existence and uniqueness of a stationary equilibrium with a stationary cohort size. Finally, we examine how the model can rationalize the observed postponement of births, and we highlight two plausible causes: (1) a general rise in the cost of children in terms of goods and (2) a decline in the degree of family altruism.
Optimal life-cycle fertility in a Barro-Becker economy
Pestieau, Pierre (Autor:in) / Ponthiere, Gregory (Autor:in)
2014
Aufsatz (Zeitschrift)
Elektronische Ressource
Englisch
RVK:
ELIB39
/
ELIB45
Lokalklassifikation FBW:
oek 2608
BKL:
74.80
Demographie
/
83.31$jWirtschaftswachstum
/
74.80$jDemographie$XGeographie
/
83.31
Wirtschaftswachstum
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