Children and the Wealth of Nations
AbstractThe welfare of an individual depends on the quality and quantity of life. The quantity of life itself depends on longevity but also on the number of descendants. Specifically, children, grandchildren, etc, offer an alternative way to extend life for altruistic parents. Everything else equal, a lower fertility rate reduces the welfare of altruistic parents. This paper incorporates fertility into an overall assessment of the degree and evolution of cross-country inequality around the world and shows that it is quantitatively important. Our calculations suggest a major quantity-quantity trade-off: for the period 1970-2005, the overall welfare gains due to longevity improvements were mostly offset by the welfare loss due fertility reductions. The effective quantity of life remained roughly constant.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Society for Economic Dynamics in its series 2012 Meeting Papers with number 1052.
Date of creation: 2012
Date of revision:
Contact details of provider:
Postal: Society for Economic Dynamics Christian Zimmermann Economic Research Federal Reserve Bank of St. Louis PO Box 442 St. Louis MO 63166-0442 USA
Web page: http://www.EconomicDynamics.org/society.htm
More information through EDIRC
Other versions of this item:
- I - Health, Education, and Welfare
- J - Labor and Demographic Economics
- O - Economic Development, Technological Change, and Growth
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Gary S. Becker & Tomas J. Philipson & Rodrigo R. Soares, 2005.
"The Quantity and Quality of Life and the Evolution of World Inequality,"
American Economic Review,
American Economic Association, vol. 95(1), pages 277-291, March.
- Gary S. Becker & Tomas J. Philipson & Rodrigo R. Soares, 2003. "The Quantity and Quality of Life and the Evolution of World Inequality," NBER Working Papers 9765, National Bureau of Economic Research, Inc.
- Córdoba, Juan Carlos & Verdier, Geneviève, 2008.
"Inequality and growth: Some welfare calculations,"
Journal of Economic Dynamics and Control,
Elsevier, vol. 32(6), pages 1812-1829, June.
- Javier A. Birchenall & Rodrigo R. Soares, 2007.
"Altruism, Fertility, and the Value of Children: Health Policy Evaluation and Intergenerational Welfare,"
NBER Working Papers
12836, National Bureau of Economic Research, Inc.
- Birchenall, Javier A. & Soares, Rodrigo R., 2009. "Altruism, fertility, and the value of children: Health policy evaluation and intergenerational welfare," Journal of Public Economics, Elsevier, vol. 93(1-2), pages 280-295, February.
- Javier Birchenall & Rodrigo Reis Soares, 2007. "Altruism, Fertility, and the Value of Children: Health Policy Evaluation and Intergenerational Welfare," Textos para discussÃ£o 537, Department of Economics PUC-Rio (Brazil).
- Birchenall, Javier A. & Soares, Rodrigo R., 2007. "Altruism, Fertility, and the Value of Children: Health Policy Evaluation and Intergenerational Welfare," IZA Discussion Papers 2783, Institute for the Study of Labor (IZA).
- Juan Cordoba & Marla Ripoll, 2012.
"Life, Death and World Inequality,"
2012 Meeting Papers
925, Society for Economic Dynamics.
- Kevin M. Murphy & Robert H. Topel, 2005.
"The Value of Health and Longevity,"
NBER Working Papers
11405, National Bureau of Economic Research, Inc.
- Marla Ripoll & Juan Carlos Cordoba, 2011.
"A Contribution to the Economic Theory of Fertility,"
2011 Meeting Papers
1207, Society for Economic Dynamics.
- Cordoba, Juan Carlos & Ripoll, Marla, 2011. "A Contribution to the Economic Theory of Fertility," Staff General Research Papers 33899, Iowa State University, Department of Economics.
- Rodolfo E. Manuelli & Ananth Seshadri, 2009. "Explaining International Fertility Differences," The Quarterly Journal of Economics, MIT Press, vol. 124(2), pages 771-807, May.
- Viscusi, W Kip, 1993. "The Value of Risks to Life and Health," Journal of Economic Literature, American Economic Association, vol. 31(4), pages 1912-46, December.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Christian Zimmermann).
If references are entirely missing, you can add them using this form.