Optimal life-cycle fertility in a Barro-Becker economy
Pierre Pestieau
(1, 2, 3, 4)
,
Grégory Ponthière
(1, 2)
Grégory Ponthière
- Fonction : Auteur
- PersonId : 1129355
- ORCID : 0000-0002-7328-4441
- IdRef : 189782714
Résumé
Parenthood postponement is a key demographic trend of the last three decades. In order to rationalize that stylized fact, we extend the canonical model by Barro and Becker (Econometrica 57:481–501, 1989) to include two—instead of one—reproduction periods. We examine how the cost structure of early and late children in terms of time and goods affects the optimal fertility timing. Then, we identify conditions that guarantee the existence and uniqueness of a stationary equilibrium with a stationary cohort size. Finally, we examine how the model can rationalize the observed postponement of births, and we highlight two plausible causes: (1) a general rise in the cost of children in terms of goods and (2) a decline in the degree of family altruism.
Domaines
Economies et financesFormat du dépôt | Notice |
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Type de dépôt | Article dans une revue |
Titre |
en
Optimal life-cycle fertility in a Barro-Becker economy
|
Résumé |
en
Parenthood postponement is a key demographic trend of the last three decades. In order to rationalize that stylized fact, we extend the canonical model by Barro and Becker (Econometrica 57:481–501, 1989) to include two—instead of one—reproduction periods. We examine how the cost structure of early and late children in terms of time and goods affects the optimal fertility timing. Then, we identify conditions that guarantee the existence and uniqueness of a stationary equilibrium with a stationary cohort size. Finally, we examine how the model can rationalize the observed postponement of births, and we highlight two plausible causes: (1) a general rise in the cost of children in terms of goods and (2) a decline in the degree of family altruism.
|
Auteur(s) |
Pierre Pestieau
1, 2, 3, 4
, Grégory Ponthière
1, 2
1
PSE -
Paris School of Economics
( 301309 )
- 48 boulevard Jourdan 75014 Paris
- France
2
PSE -
Paris-Jourdan Sciences Economiques
( 139754 )
- 48 boulevard Jourdan 75014 Paris
- France
3
CORE -
Center of Operation Research and Econometrics [Louvain]
( 48233 )
- 34, Voie du Roman Pays B-1348 Louvain-la-Neuve
- Belgique
4
CEPR -
Center for Economic Policy Research
( 143559 )
- Royaume-Uni
|
Nom de la revue |
|
Langue du document |
Anglais
|
Volume |
28
|
Vulgarisation |
Non
|
Comité de lecture |
Oui
|
Audience |
Internationale
|
Date de publication |
2015-01
|
Page/Identifiant |
45-87
|
Numéro |
1
|
Public visé |
Scientifique
|
Sous-type de document pour les Articles |
Research article
|
Mots-clés (JEL) |
|
Financement |
|
Domaine(s) |
|
Voir aussi |
|
Mots-clés |
en
Fertility, Birth timing, Population, Dynastic altruism, OLG model
|
DOI | 10.1007/s00148-014-0511-2 |
ProdINRA | 313355 |
UT key WOS | 000344345500003 |
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