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Public education, endogenous fertility and economic growth

  • Ko Shakuno
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    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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    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
    Contact details of provider: Postal: Kawauchi, Aoba-ku, Sendai 980-8476
    Web page: http://www.econ.tohoku.ac.jp/econ/english/index.html
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    1. repec:cor:louvrp:-1676 is not listed on IDEAS
    2. 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, vol. 81(2), pages S279-88, Part II, .
    3. Kaganovich, Michael & Zilcha, Itzhak, 1999. "Education, social security, and growth," Journal of Public Economics, Elsevier, vol. 71(2), pages 289-309, February.
    4. Luca Gori & Luciano Fanti, 2008. "Human capital, income, fertility and child policy," Economics Bulletin, AccessEcon, vol. 9(7), pages 1-7.
    5. Jie Zhang, 1997. "Fertility, Growth, and Public Investments in Children," Canadian Journal of Economics, Canadian Economics Association, vol. 30(4), pages 835-43, November.
    6. David DE LA CROIX & Matthias DOEPKE, 2002. "Public versus Private Education When Diferential Fertility Matters," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 2002013, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    7. Akira Yakita, 2001. "Uncertain lifetime, fertility and social security," Journal of Population Economics, Springer, vol. 14(4), pages 635-640.
    8. 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.
    9. 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.
    10. repec:ebl:ecbull:v:9:y:2008:i:7:p:1-7 is not listed on IDEAS
    11. David de la Croix & Matthias Doepke, 2003. "Inequality and Growth: Why Differential Fertility Matters," American Economic Review, American Economic Association, vol. 93(4), pages 1091-1113, September.
    12. repec:ebl:ecbull:v:10:y:2008:i:7:p:1-6 is not listed on IDEAS
    13. Akira Yakita, 2010. "Human capital accumulation, fertility and economic development," Journal of Economics, Springer, vol. 99(2), pages 97-116, March.
    14. 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.
    15. 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, vol. 100(4), pages 818-34, August.
    16. Luca Gori & Luciano Fanti, 2008. "Child quality choice and fertility disincentives," Economics Bulletin, AccessEcon, vol. 10(7), pages 1-6.
    17. 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.
    18. Leonid Azarnert, 2010. "Free education, fertility and human capital accumulation," Journal of Population Economics, Springer, vol. 23(2), pages 449-468, March.
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