We analytically assess the effects of changes in longevity on the interest rate, the
consumption-savings behavior, and the optimal retirement decision within a dynamic …

Having children is like investing in a risky project. Postponing birth is like delaying an
irreversible investment. It has an option value, which depends on its costs and benefits, and …

Recent evidence on the “fertility rebound” offers credence to the idea that, from the onset of
early industrialization to the present day, the dynamics of fertility can be represented by an N …

During the last century, fertility has exhibited, in industrialized economies, two distinct trends:
the cohort total fertility rate follows a decreasing pattern, while the cohort average age at …

We investigate women's fertility, labor and marriage market responses to a health innovation
that led to reductions in mortality from treatable causes, and especially large declines in …

This paper studies social security reforms in a model with declining population growth and
increasing life expectancy. Based on simulations using data on China, it is found that a …

Parenthood postponement is a key demographic trend of the last three decades. In order to
rationalize that stylized fact, we extend the canonical model by Barro and Becker …

Due to the aging process, the provision of long-term care (LTC) to the dependent elderly has
become a major challenge of our epoch. But our societies are also characterized, since the …

We consider in this paper overlapping generations economies with pollution resulting from
both consumption and production. The competitive equilibrium steady state is compared to …

Although the optimal public policy under an endogenous number of children has been
widely studied, the optimal public intervention under an endogenous timing of births has …