Fertility, Inequality and Income Growth

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 f...

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Bibliographic Details
Published in:Italian economic journal 2022-03, Vol.8 (1), p.29-48
Main Authors: Shintani, Masaya, Yasuoka, Masaya
Format: Article
Language:English
Subjects:
Child care
Economic theory
Economics
Economics and Finance
European Integration
Fertility
Monetary policy
Research Paper
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Summary: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.
ISSN:2199-322X
2199-3238
DOI:10.1007/s40797-021-00143-6