IDEAS home Printed from https://ideas.repec.org/a/red/issued/v5y2002i4p775-814.html
   My bibliography  Save this article

Mortality, Fertility, and Saving in a Malthusian Economy

Author

Listed:
  • Michele Boldrin

    (University of Minnesota)

  • Larry E. Jones

    (University of Minnesota)

Abstract

We develop a model of fertility choice by utility maximizing households, based on an explicit notion of intergenerational external effects. In contrast to previous economic literature, we assume that the external effects run from children to parents. This gives rise to a fundamentally different reason for bearing of children, as parents expect to be cared for, at least partially, by their children in their old age. We take the behavior of infant mortality since 1541 as the key exogenous variable and endogeneize the size of the transfer from children to parents by linking it to the endogenous savings and fertility choice of the parents. This generates a dynamic model of a Malthusian society that performs substantially better, qualitatively and quantitatively, than previous economic models of endogenous fertility. (Copyright: Elsevier)

Suggested Citation

  • Michele Boldrin & Larry E. Jones, 2002. "Mortality, Fertility, and Saving in a Malthusian Economy," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 5(4), pages 775-814, October.
    • Handle: RePEc:red:issued:v:5:y:2002:i:4:p:775-814
    DOI: 10.1006/redy.2002.0186
    as

    Download full text from publisher

    File URL: http://dx.doi.org/10.1006/redy.2002.0186
    File Function: Full text
    Download Restriction: Access to full texts is restricted to ScienceDirect subscribers and ScienceDirect institutional members. See http://www.sciencedirect.com/ for details.
    File URL: https://libkey.io/10.1006/redy.2002.0186?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Zhang, Junsen & Nishimura, Kazuo, 1993. "The old-age security hypothesis revisited," Journal of Development Economics, Elsevier, vol. 41(1), pages 191-202, June.
    2. Haynes, Stephen E & Phillips, Llad & Votey, Harold L, Jr, 1985. " An Econometric Test of Structural Change in the Demographic Transition," Scandinavian Journal of Economics, Wiley Blackwell, vol. 87(3), pages 554-567.
    3. Matthias Doepke, 2004. "Accounting for Fertility Decline During the Transition to Growth," Journal of Economic Growth, Springer, vol. 9(3), pages 347-383, September.
    4. Mark R. Rosenzweig & Kenneth I. Wolpin, 1985. "Specific Experience, Household Structure, and Intergenerational Transfers: Farm Family Land and Labor Arrangements in Developing Countries," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 100(Supplemen), pages 961-987.
    5. Gary D. Hansen & Edward C. Prescott, 2002. "Malthus to Solow," American Economic Review, American Economic Association, vol. 92(4), pages 1205-1217, September.
    6. Rupa Chakrabarti, 1999. "Endogenous fertility and growth in a model with old age support," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 13(2), pages 393-416.
    7. Kalemli-Ozcan, Sebnem & Ryder, Harl E. & Weil, David N., 2000. "Mortality decline, human capital investment, and economic growth," Journal of Development Economics, Elsevier, vol. 62(1), pages 1-23, June.
    8. Oded Galor and David N. Weil, 1998. "From Malthusian Stagnation to Modern Growth," Working Papers 98-26, Brown University, Department of Economics.
    9. Gary S. Becker & Robert J. Barro, 1988. "A Reformulation of the Economic Theory of Fertility," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 103(1), pages 1-25.
    10. Michele Boldrin & Ana Montes, 2005. "The Intergenerational State Education and Pensions," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 72(3), pages 651-664.
    11. Gary S. Becker, 1960. "An Economic Analysis of Fertility," NBER Chapters, in: Demographic and Economic Change in Developed Countries, pages 209-240, National Bureau of Economic Research, Inc.
    12. Gregory Clark, 2001. "The Long March of History: Farm Laborers Wages in England 1208-1850," NajEcon Working Paper Reviews 625018000000000238, www.najecon.org.
    13. Sah, Raaj Kumar, 1991. "The Effects of Child Mortality Changes on Fertility Choice and Parental Welfare," Journal of Political Economy, University of Chicago Press, vol. 99(3), pages 582-606, June.
    14. Lee Lillard & Robert Willis, 1997. "Motives for interqenerational transfers: Evidence from Malaysia," Demography, Springer;Population Association of America (PAA), vol. 34(1), pages 115-134, February.
    15. Barro, Robert J & Becker, Gary S, 1989. "Fertility Choice in a Model of Economic Growth," Econometrica, Econometric Society, vol. 57(2), pages 481-501, March.
    16. David N. Weil & Oded Galor, 1999. "From Malthusian Stagnation to Modern Growth," American Economic Review, American Economic Association, vol. 89(2), pages 150-154, May.
    17. Razin, Assaf & Ben-Zion, Uri, 1975. "An Intergenerational Model of Population Growth," American Economic Review, American Economic Association, vol. 65(5), pages 923-933, December.
    18. Jensen, Eric R, 1990. "An Econometric Analysis of the Old-Age Security Motive for Childbearing," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 31(4), pages 953-968, November.
    19. Schultz, T Paul, 1969. "An Economic Model of Family Planning and Fertility," Journal of Political Economy, University of Chicago Press, vol. 77(2), pages 153-180, March/Apr.
    20. Raut, L K & Srinivasan, T N, 1994. "Dynamics of Endogenous Growth," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 4(5), pages 777-790, August.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Luciano Fanti & Luca Gori, 2012. "Public Expenditure on Health and Private Old-Age Insurance in an OLG Growth Model with Endogenous Fertility: Chaotic Dynamics Under Perfect Foresight," Computational Economics, Springer;Society for Computational Economics, vol. 40(4), pages 333-353, December.
    2. Luis Angeles, 2010. "Demographic transitions: analyzing the effects of mortality on fertility," Journal of Population Economics, Springer;European Society for Population Economics, vol. 23(1), pages 99-120, January.
    3. Marla Ripoll & Juan Carlos Cordoba, 2011. "A Contribution to the Economic Theory of Fertility," 2011 Meeting Papers 1207, Society for Economic Dynamics.
    4. Robert TAMURA & David CUBERES, 2020. "Equilibrium and A-efficient Fertility with Increasing Returns to Population and Endogenous Mortality," JODE - Journal of Demographic Economics, Cambridge University Press, vol. 86(2), pages 157-182, June.
    5. Larry E. Jones & Alice Schoonbroodt & Michèle Tertilt, 2010. "Fertility Theories: Can They Explain the Negative Fertility-Income Relationship?," NBER Chapters, in: Demography and the Economy, pages 43-100, National Bureau of Economic Research, Inc.
    6. Michael Bar & Oksana Leukhina, 2010. "Demographic Transition and Industrial Revolution: A Macroeconomic Investigation," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 13(2), pages 424-451, April.
    7. Michael Grimm, 2000. "Comportement familial, inégalités et croissance : Une revue de la littérature," Working Papers DT/2000/09, DIAL (Développement, Institutions et Mondialisation).
    8. Robinson, James A. & Srinivasan, T.N., 1993. "Long-term consequences of population growth: Technological change, natural resources, and the environment," Handbook of Population and Family Economics, in: M. R. Rosenzweig & Stark, O. (ed.), Handbook of Population and Family Economics, edition 1, volume 1, chapter 21, pages 1175-1298, Elsevier.
    9. Carlos Esteban Posada, 2013. "Crecimiento económico y transición demográfica: un modelo y el caso colombiano de los siglos XIX y XX," Revista Desarrollo y Sociedad, Universidad de los Andes,Facultad de Economía, CEDE, December.
    10. Michael Grimm, 2003. "Family and economic growth: A review," Mathematical Population Studies, Taylor & Francis Journals, vol. 10(3), pages 145-173.
    11. Oded Galor & David N. Weil, 1999. "Population, Technology, and Growth: From Malthusian Stagnation to the Demographic Transition and Beyond," Working Papers 99-35, Brown University, Department of Economics.
    12. Nils-Petter Lagerlof, 2002. "Sex, Equality, and Growth (in that order)," GE, Growth, Math methods 0212001, University Library of Munich, Germany.
    13. Carolyn Chisadza & Manoel Bittencourt, 2015. "Education and Fertility: Panel Evidence from sub-Saharan Africa," Working Papers 201526, University of Pretoria, Department of Economics.
    14. Luciano Fanti & Luca Gori, 2014. "Endogenous fertility, endogenous lifetime and economic growth: the role of child policies," Journal of Population Economics, Springer;European Society for Population Economics, vol. 27(2), pages 529-564, April.
    15. Adams, Jonathan J., 2022. "Urbanization, long-run growth, and the demographic transition," Journal of Demographic Economics, Cambridge University Press, vol. 88(1), pages 31-77, March.
    16. Claude Diebolt & Faustine Perrin, 2013. "From Stagnation to Sustained Growth: The Role of Female Empowerment," American Economic Review, American Economic Association, vol. 103(3), pages 545-549, May.
    17. Luciano Fanti, 2009. "Longevity, fertility and Demographic Transition in an OLG model," Economics Bulletin, AccessEcon, vol. 29(1), pages 347-356.
    18. Wei-Bin Zhang, 2014. "Endogenous population with human and physical capital accumulation," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 61(3), pages 231-252, September.
    19. Piotr Dominiak & Ewa Lechman & Anna Okonowicz, 2015. "Fertility Rebound And Economic Growth. New Evidence For 18 Countries Over The Period 1970–2011," Equilibrium. Quarterly Journal of Economics and Economic Policy, Institute of Economic Research, vol. 10(1), pages 91-112, March.
    20. Larry E. Jones & Michele Tertilt, 2006. "An Economic History of Fertility in the U.S.: 1826-1960," NBER Working Papers 12796, National Bureau of Economic Research, Inc.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:red:issued:v:5:y:2002:i:4:p:775-814. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Christian Zimmermann (email available below). General contact details of provider: https://edirc.repec.org/data/sedddea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.