Optimal Lifecycle Fertility in a Barro Becker Economy

Pierre Pestieau and Gregory Ponthiere

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Abstract: 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 (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 a¤ects the optimal fertility timing. Then, focusing a stationary equilibrium with stationary population, we provide two alternative explanations for the observed postponement of births: (1) a fall of the direct cost of late children (thanks to medical advances); (2) a rise in hourly productivity, which increases the (relative) opportunity costs of early children in comparison to late children.

Keywords: Fertility; Birth Timing; Population; Dynastic Altruism; OLG Model (search for similar items in EconPapers)
Date: 2012-03
New Economics Papers: this item is included in nep-dem and nep-dge
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00676500v1
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Related works:
Journal Article: Optimal life-cycle fertility in a Barro-Becker economy (2015)
Working Paper: Optimal life-cycle fertility in a Barro-Becker economy (2015)
Working Paper: Optimal life-cycle fertility in a Barro-Becker economy (2015)
Working Paper: Optimal life-cycle fertility in a Barro-Becker economy (2015)
Working Paper: Optimal lifecycle fertility in a Barro-Becker economy (2012)
Working Paper: Optimal Lifecycle Fertility in a Barro Becker Economy (2012)
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