The Quantity and Quality of Children: A Semi-Parametric Bayesian IV Approach

Sylvia Frühwirth-Schnatter (), Martin Halla, Alexandra Posekany (), Gerald Pruckner and Thomas Schober
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Sylvia Frühwirth-Schnatter: Vienna University of Economics and Business
Alexandra Posekany: Vienna University of Economics and Business

No 8024, IZA Discussion Papers from Institute of Labor Economics (IZA)

Abstract: Prior empirical research on the theoretically proposed interaction between the quantity and the quality of children builds on exogenous variation in family size due to twin births and focuses on human capital outcomes. The typical finding can be described as a statistically nonsignificant two-stage least squares (2SLS) estimate, with substantial standard errors. We regard these conclusions of no empirical support for the quantity-quality trade-off as premature and, therefore, extend the empirical approach in two ways. First, we add health as an additional outcome dimension. Second, we apply a semi-parametric Bayesian IV approach for econometric inference. Our estimation results substantiate the finding of a zero effect: we provide estimates with an increased precision by a factor of approximately twenty-three, for a broader set of outcomes.

Keywords: quantity-quality model of fertility; family size; human capital; health; semi-parametric Bayesian IV approach (search for similar items in EconPapers)
JEL-codes: C11 C26 I10 I20 J13 J20 (search for similar items in EconPapers)
Pages: 34 pages
Date: 2014-03
New Economics Papers: this item is included in nep-dem, nep-ecm and nep-evo
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Working Paper: The Quantity and Quality of Children: A Semi-Parametric Bayesian IV Approach (2014)
Working Paper: The Quantity and Quality of Children: A Semi-Parametric Bayesian IV Approach (2014)
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