A Theory of Occupational Choice with Endogenous Fertility

• 成果类型: Article
• 署名作者: Mookherjee, Dilip; Prina, Silvia; Ray, Debraj
• 署名单位: Boston University; University System of Ohio; Case Western Reserve University; New York University
• 刊物名称: AMERICAN ECONOMIC JOURNAL-MICROECONOMICS
• ISSN/ISSBN: 1945-7669
• DOI: 10.1257/mic.4.4.1
• 发表日期: 2012
• 页码: 1-34
• 关键词: income-distribution dynamics; intergenerational mobility; economic-theory; INEQUALITY; GROWTH; MODEL; population; quantity; CHILDREN; QUALITY

摘要

Theories based on partial equilibrium reasoning alone cannot explain the widespread negative cross-sectional correlation between parental wages and fertility, without restrictive assumptions on preferences and childcare costs. We argue that incorporating a dynamic general equilibrium analysis of returns to human capital can help explain observed empirical patterns. Other by-products of this theory include explanations for intergenerational mobility without stochastic shocks, connections between mobility and fertility patterns, and locally determinate steady states. Comparative statics exercises on steady states shed light on the effects of education, childcare subsidies, child labor regulations, and income redistribution policy on long run living standards. (JEL H23, I31, J13, J24, J62, J82)