Life-Cycle Fertility and Human Capital Accumulation
AbstractThis paper develops and implements a semiparametric estimator for investi-gating, with panel data, the importance of human capital accumulation, nonsep-arable preferences of females and child care costs on females life-cycle fertility and labor supply behaviors. It presents a model in which the agents’ expecta-tions are correlated with their future choices and provides a set of conditions under which statistical inferences are possible from a short panel. Under the assumption that observed allocations are Pareto optimal, a dynamic model of female labor supply, labor force participation and fertility decision is estimated. In that model, experience on the job raises future wages, time spent nurturing children a ?ects utility, while time spent o ?the job in the past directly a ?ects current utility( or, indirectly through productivity in non-market sector). This paper then uses the estimates from the model to conduct di ?erent policy sim-ulations which shows that human capital accumulation is the most important determinant of life-cycle fertility behavior.
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Bibliographic InfoPaper provided by Carnegie Mellon University, Tepper School of Business in its series GSIA Working Papers with number 2003-16.
Date of creation: Nov 2002
Date of revision:
Contact details of provider:
Postal: Tepper School of Business, Carnegie Mellon University, 5000 Forbes Avenue, Pittsburgh, PA 15213-3890
Web page: http://www.tepper.cmu.edu/
This paper has been announced in the following NEP Reports:
- NEP-ALL-2004-12-12 (All new papers)
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