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A Contribution to the Economic Theory of Fertility

Author

Listed:
  • 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.

Suggested Citation

  • Marla Ripoll & Juan Carlos Cordoba, 2011. "A Contribution to the Economic Theory of Fertility," 2011 Meeting Papers 1207, Society for Economic Dynamics.
    • Handle: RePEc:red:sed011:1207
    as

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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 Archive 35531, Iowa State University, Department of Economics.
    2. Córdoba, Juan Carlos & Ripoll, Marla, 2013. "What explains schooling differences across countries?," Journal of Monetary Economics, Elsevier, vol. 60(2), pages 184-202.
    3. Juan Carlos Córdoba & Marla Ripoll, 2019. "The Elasticity of Intergenerational Substitution, Parental Altruism, and Fertility Choice," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 86(5), pages 1935-1972.
    4. Juan Cordoba & Marla Ripoll & Xiying Liu, 2019. "Accounting for the International Quantity-Quality Trade-off," 2019 Meeting Papers 156, Society for Economic Dynamics.
    5. Cordoba, Juan Carlos & Liu, Xiying, 2022. "Malthusian stagnation is efficient," Theoretical Economics, Econometric Society, vol. 17(1), January.
    6. Juan Carlos Córdoba & Marla Ripoll, 2016. "Intergenerational Transfers and the Fertility–Income Relationship," Economic Journal, Royal Economic Society, vol. 126(593), pages 949-977, June.
    7. Cordoba, Juan Carlos & Liu, Xiying, 2014. "Altruism, fertility and risk," ISU General Staff Papers 201404050700001022, Iowa State University, Department of Economics.
    8. repec:isu:genstf:201501010800005546 is not listed on IDEAS
    9. Juan Carlos Cordoba, 2015. "Children, Dynastic Altruism and the Wealth of Nations," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 18(4), pages 774-791, October.
    10. Cordoba, Juan Carlos, 2012. "Children and the wealth of nations," ISU General Staff Papers 201210140700001080, Iowa State University, Department of Economics.
    11. Cordoba, Juan Carlos & Liu, Xiying, 2018. "Efficiency with Endogenous Population and Fixed Resources," ISU General Staff Papers 201811010700001062, Iowa State University, Department of Economics.

    More about this item

    JEL classification:

    • D00 - Microeconomics - - General - - - General
    • D1 - Microeconomics - - Household Behavior
    • D6 - Microeconomics - - Welfare Economics
    • D9 - Microeconomics - - Micro-Based Behavioral Economics
    • J1 - Labor and Demographic Economics - - Demographic Economics
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • R2 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis

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