G2TT
来源类型Discussion paper
规范类型论文
来源IDDP9935
DP9935 Aggregate Fertility and Household Savings: A General Equilibrium Analysis using Micro Data
Abhijit Banerjee; Nancy Qian; Xin Meng; TOMMASO PORZIO
发表日期2014-04-13
出版年2014
语种英语
摘要This study uses micro data and an OLG model to show that general equilibrium forces are critical for understanding the relationship between aggregate fertility and household savings. First, we document that parents perceive children as an important source of old-age support and that in partial equilibrium, increased fertility lowers household savings. Then, we construct an OLG model that parametrically matches the partial equilibrium empirical evidence. Finally, we extend the model to conduct a general equilibrium analysis and show that under standard assumptions and with the parameters implied by the data, general equilibrium forces can substantially offset the partial equilibrium effects. Thus, focusing only on partial equilibrium effects can substantially overstate the effect of a change in aggregate fertility on households savings.
主题Development Economics
关键词Demographic structure Savings Fertility
URLhttps://cepr.org/publications/dp9935
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/538769
推荐引用方式
GB/T 7714
Abhijit Banerjee,Nancy Qian,Xin Meng,et al. DP9935 Aggregate Fertility and Household Savings: A General Equilibrium Analysis using Micro Data. 2014.
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