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Childless Aristocrats: Inheritance and the Extensive Margin of Fertility

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  • Paula E Gobbi
  • Marc Goñi

Abstract

Using genealogical data of British aristocrats, we show that inheritances can affect childlessness. We study settlements, a contract restricting heirs’ powers and settling bequests for yet-to-be-born generations. Settlements reduced childlessness to the ‘natural’ rate, ensuring aristocratic dynasties’ survival. Our estimation exploits that settlements were signed at the heir’s wedding if the family head lived until this date. Whether the heir was born after a girl provides as-good-as-random assignment into settlements. Next, we develop a theory that reproduces our findings, shows that exponential discounting cannot rationalise inheritance systems restricting heirs and that inheritance systems can emerge endogenously when fertility concerns exist.

Suggested Citation

  • Paula E Gobbi & Marc Goñi, 2021. "Childless Aristocrats: Inheritance and the Extensive Margin of Fertility," The Economic Journal, Royal Economic Society, vol. 131(637), pages 2089-2118.
    • Handle: RePEc:oup:econjl:v:131:y:2021:i:637:p:2089-2118.
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    File URL: http://hdl.handle.net/10.1093/ej/ueaa126
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    Cited by:

    1. Bethencourt, Carlos & Santos-Torres, Daniel, 2023. "Gender-role identity in adolescence and women fertility in adulthood," MPRA Paper 116321, University Library of Munich, Germany.
    2. Kumon, Yuzuru, 2021. "The Deep Roots of Inequality," IAST Working Papers 21-125, Institute for Advanced Study in Toulouse (IAST).
    3. Thomas TB Baudin & Bram De Rock & Paula Eugenia Gobbi, 2021. "Economics and Family Structures," Working Papers ECARES 2021-21, ULB -- Universite Libre de Bruxelles.
    4. Julio Dávila, 2023. "Bequests or education," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 75(4), pages 1039-1069, May.
    5. Sijie Hu, 2023. "Survival of the literati: Social status and reproduction in Ming–Qing China," Journal of Population Economics, Springer;European Society for Population Economics, vol. 36(4), pages 2025-2070, October.

    More about this item

    JEL classification:

    • J13 - Labor and Demographic Economics - - Demographic Economics - - - Fertility; Family Planning; Child Care; Children; Youth
    • K36 - Law and Economics - - Other Substantive Areas of Law - - - Family and Personal Law
    • N33 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy - - - Europe: Pre-1913

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