Do Family Wealth Shocks Affect Fertility Choices? Evidence from the Housing Market
AbstractThis paper uses wealth changes driven by housing market variation to estimate the effect of family resources on fertility decisions. Using data from the Panel Study of Income Dynamics, we show that a $100,000 increase in housing wealth among home owners causes a 16% to 18% increase in the probability of having a child. There is no evidence of an effect of MSA-level housing price growth on the fertility of renters, however. We also present evidence that housing wealth growth increases total fertility and that the responsiveness of fertility to housing wealth has increased over time, commensurate with the recent housing boom. © 2013 The President and Fellows of Harvard College and the Massachusetts Institute of Technology.
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Bibliographic InfoArticle provided by MIT Press in its journal Review of Economics and Statistics.
Volume (Year): 95 (2013)
Issue (Month): 2 (May)
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Web page: http://mitpress.mit.edu/journals/
Find related papers by JEL classification:
- J13 - Labor and Demographic Economics - - Demographic Economics - - - Fertility; Family Planning; Child Care; Children; Youth
- R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets
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- Richard Disney & John Gathergood, 2013. "House Prices, Wealth Effects and Labour Supply," Discussion Papers 13/02, University of Nottingham, School of Economics.
- Valletta, Robert G., 2013. "House lock and structural unemployment," Labour Economics, Elsevier, vol. 25(C), pages 86-97.
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