Fertility, Inequality and Income Growth

Masaya Shintani and Masaya Yasuoka
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Masaya Shintani: Kobe University

Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, 2022, vol. 8, issue 1, No 2, 29-48

Abstract: Abstract This paper sets an endogenous fertility model with a two-sector model: one for the final goods sector and the other for child care service sector. Results of theoretical analysis indicate that the subsidy for children raises the labor share of the child care service sector and that it can increase fertility. An aging population reduces fertility and the labor share of the child care service sector. In addition to these results, we consider monetary policy effects on fertility. Results show that monetary policy can raise fertility and the labor share of the child care service sector by virtue of an increase in the pension benefit if a pay-as-you-go pension exists.

Keywords: Aging population; Fertility; Income growth; Monetary policy; Subsidy (search for similar items in EconPapers)
JEL-codes: E31 H22 J11 J14 (search for similar items in EconPapers)
Date: 2022
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Working Paper: Fertility, Inequality and Income Growth (2019)
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DOI: 10.1007/s40797-021-00143-6

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