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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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Citations

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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. Cordoba, Juan Carlos, 2012. "Children and the Wealth of Nations," Staff General Research Papers 34989, Iowa State University, Department of Economics.
  3. Cordoba, Juan Carlos & Ripoll, Marla, 2014. "Intergenerational Transfers and the Fertility-Income Relationship," Staff General Research Papers 37662, Iowa State University, Department of Economics.
  4. Cordoba, Juan Carlos & Liu, Xiying, 2014. "Altruism, Fertility and Risk," Staff General Research Papers 37481, Iowa State University, Department of Economics.
  5. Córdoba, Juan Carlos & Ripoll, Marla, 2013. "What explains schooling differences across countries?," Journal of Monetary Economics, Elsevier, vol. 60(2), pages 184-202.

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