Dynamic microeconomic models of fertility choice: A survey
Cristino R. Arroyo and
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Cristino R. Arroyo: Department of International Economics, Johns Hopkins University, Nitze School of Advanced International Studies, 1740 Massachusetts Ave. NW, Washington, DC 20036-1984, USA (Fax:
Journal of Population Economics, 1997, vol. 10, issue 1, 23-65
We review existing approaches to the specification and estimation of dynamic microeconomic models of fertility. Dynamic fertility models explain the evolution of fertility variates over the life-cycle as the solution to a dynamic programming model involving economic choices. Dynamic models may be classified into structural and reduced-form models. Structural models generally require solution of the underlying dynamic programming problem. Reduced-form models, while based on a structural specification, do not. Recent innovations in estimation methodologies make both types practical and realistic alternatives to static models of lifetime fertility. JEL classification: J13, C41, C61
Keywords: Fertility; ·; dynamic; micro; models (search for similar items in EconPapers)
JEL-codes: J13 C41 C61 (search for similar items in EconPapers)
Note: Received August 26, 1994/Accepted October 23, 1996
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