Chapter

Fertility Theories

Larry E. Jones and Alice Schoonbroodt

in Demography and the Economy

Published by University of Chicago Press

Published in print January 2011 | ISBN: 9780226754727
Published online February 2013 | e-ISBN: 9780226754758 | DOI: http://dx.doi.org/10.7208/chicago/9780226754758.003.0003
Fertility Theories

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This chapter explains the observed negative relationship between income and fertility within a standard utility maximizing economic model. The observation that richer populations have lower fertility has been repeatedly made, whether the evidence is across countries or within countries. Richer people buy more houses, cars, clothes, and gadgets—why then do they not have more children? Are children literally an “inferior good?” This chapter examines the leading economic models that attempt to explain the negative relationship between income and fertility and finds that the models are fragile and less than convincing. The chapter looks at models that trade off the quality of children (the amount of time that is invested in children by parents) and the quantity of children, to see whether these models can be made consistent with the observed cross-section results.

Keywords: fertility theories; negative fertility-income relationship; economic models; high income people; higher opportunity cost; quality child care services; richer populations; cross-sectional relationship

Chapter.  26001 words.  Illustrated.

Subjects: Macroeconomics and Monetary Economics

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