Who Owns Children and Does It Matter?

Alice Schoonbroodt and Michele Tertilt

Working Papers from eSocialSciences

Abstract: In this paper a particular market failure that may lead to inefficiently low equilibrium fertility and therefore to a need for government intervention are analysed. The friction which is investigated is related to the ownership of children. If parents have no claim on their children’s income, then the private benefit from producing a child may be smaller than the social benefit. We present an overlapping-generations (OLG) model with fertility choice and altruism, and model ownership by introducing a minimum constraint on transfers from parents to children.

Keywords: children; altruism; child; parents; Overlapping generations; Fertility; Efficiency; market failure; social security (search for similar items in EconPapers)
Date: 2010-01
New Economics Papers: this item is included in nep-dge
Note: Institutional Papers
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (12)

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Related works:
Working Paper: Who Owns Children and Does it Matter? (2010)
Working Paper: Who Owns Children and Does it Matter? (2010)
Working Paper: Who Owns Children and Does it Matter? (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:ess:wpaper:id:2360

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