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A Contribution to the Economic Theory of Fertility

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Author Info

  • Marla Ripoll

    (University of Pittsburgh)

  • Juan Carlos Cordoba

    (Iowa State University)

Abstract

We show that a non-separable formulation of preferences that allow for a low EIS but a high Elasticity of Intergenerational Substitution (EGS) can simultaneously account for the evidence of declining demand for children and increasing demand for longevity as income increases. The model with a single elasticity cannot account for both. Our results suggests a major role for a new parameter in macro, the EGS. While the EIS mostly influence short term economic decisions, the EGS influence mostly long term economic decisions.

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Bibliographic Info

Paper provided by Society for Economic Dynamics in its series 2011 Meeting Papers with number 1207.

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Date of creation: 2011
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Handle: RePEc:red:sed011:1207

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References

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Cited by:
  1. Cordoba, Juan Carlos & Ripoll, Marla, 2012. "Barro-Becker with Credit Frictions," Staff General Research Papers 35532, Iowa State University, Department of Economics.
  2. Juan Carlos Cordoba & Marla Ripoll, 2011. "What Explains Schooling Differences Across Countries?," Working Papers 2011-028, Human Capital and Economic Opportunity Working Group.
  3. Cordoba, Juan Carlos, 2012. "Children and the Wealth of Nations," Staff General Research Papers 34989, Iowa State University, Department of Economics.

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