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The Interaction Between Endogenous Fertility And Inequality In The Political Economy

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  • ANDREAS SCH�FER
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    Abstract

    We simulate a two-period overlapping generations model with heterogeneous agents. Parents receive utility from the quantity and quality of their offspring. An increase in the wage rate leads to higher opportunity costs of child-rearing time, thus implying lower fertility and higher quality per child. This causes intergenerational persistence in fertility decisions and wages. Controlling for the initial distribution of wealth, we show that economic growth increases inequality and fertility differentials. Furthermore, we endogenize redistribution by implementing a median voter system. Due to fertility differentials, the median voter moves from higher to lower income percentiles. Copyright Blackwell Publishing Ltd and The Victoria University of Manchester, 2005..

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    Bibliographic Info

    Article provided by University of Manchester in its journal The Manchester School.

    Volume (Year): 73 (2005)
    Issue (Month): 4 (07)
    Pages: 522-541

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    Handle: RePEc:bla:manchs:v:73:y:2005:i:4:p:522-541

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    1. David N. Weil & Oded Galor, 2000. "Population, Technology, and Growth: From Malthusian Stagnation to the Demographic Transition and Beyond," American Economic Review, American Economic Association, vol. 90(4), pages 806-828, September.
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    12. Galor, Oded & Zang, Hyoungsoo, 1997. "Fertility, income distribution, and economic growth: Theory and cross-country evidence," Japan and the World Economy, Elsevier, vol. 9(2), pages 197-229, May.
    13. Loury, Glenn C, 1981. "Intergenerational Transfers and the Distribution of Earnings," Econometrica, Econometric Society, vol. 49(4), pages 843-67, June.
    14. DE LA CROIX, David & DOEPKE, Matthias, 2001. "Inequality and Growth : Why Differential Fertility Matters," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 2001008, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
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