Physical and human capital, fertility, and childcare services

IF 1.2 Q3 ECONOMICS Research in Economics Pub Date : 2022-12-01 DOI:10.1016/j.rie.2022.09.004

Kazunobu Muro

引用次数: 1

Abstract

We shed light on a nexus between fertility transitions and economic growth patterns. We construct a two-sector overlapping generations (OLG) model with endogenous fertility, physical capital, and human capital, where one sector produces goods, and another produces childcare services. If the elasticity of fertility for expenditure on childcare services is zero, the economy experiences endogenous growth, and fertility does not depend on physical and human capital, but it increases with parental child-rearing time. On the other hand, if elasticity is positive, the economy converges to a steady state, and the number of children becomes the homogenous function of degree of elasticity (less than one). In other words, fertility is the decreasing-return-to-scale function of physical and human capital. We show that a subsidy policy for education is more desirable than a subsidy for childcare services.

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物质和人力资本、生育和托儿服务

我们揭示了生育率转变与经济增长模式之间的联系。我们构建了一个包含内生生育率、物质资本和人力资本的两部门重叠代(OLG)模型，其中一个部门生产商品，另一个部门生产托儿服务。如果儿童保育服务支出的生育率弹性为零，则经济经历内生增长，生育率不依赖于物质和人力资本，而是随着父母养育子女的时间而增加。另一方面，如果弹性为正，则经济收敛于稳定状态，子女数量成为弹性程度(小于1)的齐次函数。换句话说，生育率是物质资本和人力资本的规模回报递减函数。我们表明，对教育的补贴政策比对儿童保育服务的补贴更可取。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Research in Economics ECONOMICS-

CiteScore

1.40

自引率

0.00%

发文量

审稿时长

89 days

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