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Akihiko Kaneko, Hideya Kato, Tsuyoshi Shinozaki and Mitsuyoshi Yanagihara
''Bequeathed tastes and fertility in an endogenous growth model''
( 2016, Vol. 36 No.3 )
In this paper, we incorporate an endogenous fertility decision into De la Croix's (1996) bequeathed tastes model under a log-linear utility function and an -type production function, following Romer (1989). We show that the presence of bequeathed tastes can explain the decline of the fertility rate that has occurred in developed economies.
Keywords: Overlapping generations model, Bequeathed tastes, Fertility, Endogenous growth
JEL: E2 - Macroeconomics: Consumption, Saving, Production, Employment, and Investment: General (includes Measurement and Data)
J1 - Demographic Economics: General
Manuscript Received : Jul 17 2016 Manuscript Accepted : Aug 03 2016

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