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Public education, endogenous fertility and economic growth

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  • Ko Shakuno
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    Abstract

    Using a closed-economy overlapping generations model with en- dogenous fertility, child quality choice and human capital accumula- tion, this paper examine the effects of public investment in education on fertility rate and per capita output growth rate under a pay-as-you- go (PAYG) social security system. Parents face a trade-off between the quantity and quality of children. Differently from previous studies, this paper shows that there is an inverted U-shaped relation between pub- lic investment in education and fertility. Small sized public education policy stimulates fertility and impedes growth.

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    File URL: http://ir.library.tohoku.ac.jp/re/handle/10097/57203
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    File URL: http://ir.library.tohoku.ac.jp/re/bitstream/10097/57203/1/terg319.pdf
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    Bibliographic Info

    Paper provided by Graduate School of Economics and Management, Tohoku University in its series TERG Discussion Papers with number 319.

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    Length: 21 pages
    Date of creation: May 2014
    Date of revision:
    Handle: RePEc:toh:tergaa:319

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    1. repec:ebl:ecbull:v:10:y:2008:i:7:p:1-6 is not listed on IDEAS
    2. Luca Gori & Luciano Fanti, 2008. "Human capital, income, fertility and child policy," Economics Bulletin, AccessEcon, vol. 9(7), pages 1-7.
    3. Leonid Azarnert, 2010. "Free education, fertility and human capital accumulation," Journal of Population Economics, Springer, vol. 23(2), pages 449-468, March.
    4. van Groezen, Bas & Leers, Theo & Meijdam, Lex, 2003. "Social security and endogenous fertility: pensions and child allowances as siamese twins," Journal of Public Economics, Elsevier, vol. 87(2), pages 233-251, February.
    5. Glomm, Gerhard & Ravikumar, B, 1992. "Public versus Private Investment in Human Capital Endogenous Growth and Income Inequality," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 100(4), pages 818-34, August.
    6. repec:ebl:ecbull:v:9:y:2008:i:7:p:1-7 is not listed on IDEAS
    7. Luciano Fanti & Luca Gori, 2010. "Public Education, Fertility Incentives, Neoclassical Economic Growth And Welfare," Bulletin of Economic Research, Wiley Blackwell, vol. 62(1), pages 59-77, 01.
    8. Kaganovich, M & Zilcha, I, 1997. "Education, Social Security and Growth," Papers 1-97, Tel Aviv.
    9. Bas Groezen & Lex Meijdam, 2008. "Growing old and staying young: population policy in an ageing closed economy," Journal of Population Economics, Springer, vol. 21(3), pages 573-588, July.
    10. Akira Yakita, 2010. "Human capital accumulation, fertility and economic development," Journal of Economics, Springer, vol. 99(2), pages 97-116, March.
    11. Luca Gori & Luciano Fanti, 2008. "Child quality choice and fertility disincentives," Economics Bulletin, AccessEcon, vol. 10(7), pages 1-6.
    12. Berthold U. Wigger, 1999. "Pay-as-you-go financed public pensions in a model of endogenous growth and fertility," Journal of Population Economics, Springer, vol. 12(4), pages 625-640.
    13. Jie Zhang, 1997. "Fertility, Growth, and Public Investments in Children," Canadian Journal of Economics, Canadian Economics Association, vol. 30(4), pages 835-43, November.
    14. Akira Yakita, 2001. "Uncertain lifetime, fertility and social security," Journal of Population Economics, Springer, vol. 14(4), pages 635-640.
    15. Becker, Gary S & Lewis, H Gregg, 1973. "On the Interaction between the Quantity and Quality of Children," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 81(2), pages S279-88, Part II, .
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