A review of recent developments in the economics of fertility

Diane J. Macunovich

Published 1993

This paper demonstrates that even the past two decades of fertility behavior are explainable within the context of a relative income model, once appropriate controls for female wages and labor force participation have been introduced, and the asymmetric nature of cohort size effects has been recognized. If this explanation has any validity, then the recent upturn in fertility rates is the result of rising relative male wages in combination with an increasingly dominant income effect of female wages.

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Macunovich, Diane J., A review of recent developments in the economics of fertility. Santa Monica, CA: RAND Corporation, 1993. https://www.rand.org/pubs/drafts/DRU285.html.
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