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Kamila Sommer |
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Abstract for the "Fertility Choice" paper:This paper studies the link between rising income uncertainty and household fertility patterns in an Aiyagari-Bewley-Huggett framework augmented to include fertility decisions and infertility risk. Building on Becker and Tomes (1976), I model fertility decisions as sequential, irreversible choices over the number of children, accompanied by parental choices of time and money invested toward improving children's quality. I find that young households postpone childbearing when income uncertainty is high, preferring to work and to accumulate more precautionary savings before starting a family. In presence of infertility risk, the birth postponement, in turn, reduces the number of births per household. |
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