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Noriko Mizutani
''The Effects of Housing Wealth on Fertility Decisions: Evidence from Japan''
( 2015, Vol. 35 No.4 )
This study is an empirical attempt to investigate how household resources affect fertility decisions in Japan. The presented analysis is based on changes in housing wealth as measured by changes in home value during the housing bust period. Using data from the Japanese Panel Survey of Consumers, I show that with an increase (decrease) in home value, homeowners with housing loans are more (less) likely to bear a child. For homeowners without housing loans and renters, however, housing wealth has no significant effect on fertility decisions. Furthermore, the results do not appear to be driven by local macroeconomic factors.
JEL: J1 - Demographic Economics: General
R2 - Urban, Rural, and Regional Economics: Household Analysis: General
Manuscript Received : Jan 09 2015 Manuscript Accepted : Dec 13 2015

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