English, Article, Journal or magazine article edition: What Explains Fertility? Evidence from Italian Pension Reforms Francesco C. Billari; Vincenzo Galasso

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Bookmark: http://trove.nla.gov.au/version/147715
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • What Explains Fertility? Evidence from Italian Pension Reforms
Author
  • Francesco C. Billari
  • Vincenzo Galasso
Physical Description
  • preprint
Notes
  • RePEc:igi:igierp:343
  • RePEc:ces:ceswps:_2646
  • Why do people have kids in developed societies? We propose an empirical test of two alternative theories — children as “consumption” vs. “investment” good. We use as a natural experiment the Italian pension reforms of the 90s that introduced a clear discontinuity in the treatment across workers. This policy experiment is particularly well suited, since the “consumption” motive predicts lower future pensions to reduce fertility, while the “old-age security” to increase it. Our empirical analysis identifies a clear and robust positive effect of less generous future pensions on post-reform fertility. These findings are consistent with “old-age security” even for contemporary fertility.
  • old-age security, public pension systems, fertility, altruism
  • RePEc:sef:csefwp:209
Language
  • English
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