Fertility Choice and Economic Growth: Theory and Evidence
AbstractThis paper examines a growth model with endogenous consumption, labor-leisure, and fertility. A fertility choice variable capturing both the quality and quantity of the family size enters the utility function positively but also generates time costs. Theoretical comparative dynamic results are derived for changes in exogenous production and utility parameters. Employing post-World War II U.S. data, the authors estimate the model using a structural vector autoregression with imposed long-run restrictions based on the theoretical predictions. The empirical results lend support to the endogeneity of fertility choice and present dynamic responses of each endogenous variable to employment, fertility, and output shocks. Copyright 1994 by MIT Press.
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Bibliographic InfoPaper provided by Pennsylvania State - Department of Economics in its series Papers with number 6-91-3.
Length: 19 pages
Date of creation: 1991
Date of revision:
Contact details of provider:
Postal: PENNSYLVANIA STATE UNIVERSITY, DEPARTMENT OF ECONOMICS, UNIVERSITY PARK PENNSYLVANIA 16802 U.S.A.
Web page: http://econ.la.psu.edu/
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fertility ; economic growth ; economic theory;
Other versions of this item:
- Wang, Ping & Yip, Chong K & Scotese, Carol A, 1994. "Fertility Choice and Economic Growth: Theory and Evidence," The Review of Economics and Statistics, MIT Press, vol. 76(2), pages 255-66, May.
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