What explains fertility? : evidence from Italian pension reforms

Arbeitspapier

Why do people have kids in developed societies? We propose an empirical test of two alternative theories - children as consumption” vs. investment” good. We use as a natural experiment the Italian pension reforms of the 90s that introduced a clear discontinuity in the treatment across workers. This policy experiment is particularly well suited, since the consumption” motive predicts lower future pensions to reduce fertility, while the old-age security” to increase it. Our empirical analysis identifies a clear and robust positive effect of less generous future pensions on post-reform fertility. These findings are consistent with old-age security” even for contemporary fertility.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: CESifo Working Paper ; No. 2646

Classification and Topics

• Classification: Wirtschaft ; Social Security and Public Pensions ; Fertility; Family Planning; Child Care; Children; Youth ; Altruism; Philanthropy; Intergenerational Transfers
• Subject: old-age security ; public pension systems ; fertility ; altruism ; Fruchtbarkeit ; Kinder ; Investition ; Konsumgut ; Rentenreform ; Bevölkerungsentwicklung ; Italien

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Billari, Francesco C. ; Galasso, Vincenzo
• Event: Veröffentlichung
• (who): Center for Economic Studies and ifo Institute (CESifo)
• (where): Munich
• (when): 2009

Further information

• Handle: http://hdl.handle.net/10419/30500
• Last update: 10.03.2025, 11:44 AM CET