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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
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    Web page: http://www.econ.tohoku.ac.jp/econ/english/index.html
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    1. Luca Gori & Luciano Fanti, 2008. "Human capital, income, fertility and child policy," Economics Bulletin, AccessEcon, vol. 9(7), pages 1-7.
    2. Bas van Groezen & L. Meijdam, 2004. "Growing Old and Staying Young: Population Policy in an Ageing Closed Economy," Working Papers 04-28, Utrecht School of Economics.
    3. DE LA CROIX, David & DOEPKE, Matthias, . "Inequality and growth: why differential fertility matters," CORE Discussion Papers RP 1676, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    4. Kaganovich, Michael & Zilcha, Itzhak, 1999. "Education, social security, and growth," Journal of Public Economics, Elsevier, vol. 71(2), pages 289-309, February.
    5. Berthold U. Wigger, 1999. "Pay-as-you-go financed public pensions in a model of endogenous growth and fertility," Journal of Population Economics, Springer;European Society for Population Economics, vol. 12(4), pages 625-640.
    6. repec:ebl:ecbull:v:9:y:2008:i:7:p:1-7 is not listed on IDEAS
    7. Akira Yakita, 2010. "Human capital accumulation, fertility and economic development," Journal of Economics, Springer, vol. 99(2), pages 97-116, March.
    8. Akira Yakita, 2001. "Uncertain lifetime, fertility and social security," Journal of Population Economics, Springer;European Society for Population Economics, vol. 14(4), pages 635-640.
    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. 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.
    11. repec:cor:louvrp:-1676 is not listed on IDEAS
    12. repec:ebl:ecbull:v:10:y:2008:i:7:p:1-6 is not listed on IDEAS
    13. Luca Gori & Luciano Fanti, 2008. "Child quality choice and fertility disincentives," Economics Bulletin, AccessEcon, vol. 10(7), pages 1-6.
    14. 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, .
    15. de la CROIX, David & DOEPKE, Matthias, 2002. "Public versus private education when differential fertility matters," CORE Discussion Papers 2002022, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    16. Leonid Azarnert, 2010. "Free education, fertility and human capital accumulation," Journal of Population Economics, Springer;European Society for Population Economics, vol. 23(2), pages 449-468, March.
    17. 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.
    18. Jie Zhang, 1997. "Fertility, Growth, and Public Investments in Children," Canadian Journal of Economics, Canadian Economics Association, vol. 30(4), pages 835-43, November.
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