In this survey, we argue that the economic analysis of fertility has entered a new era. First-
generation models of fertility choice were designed to account for two empirical regularities …

Much of macroeconomics is concerned with the allocation of physical capital, human capital,
and labor over time and across people. The decisions on savings, education, and labor …

This paper uses an OLG model in order to capture the economic and demographic effects of
remittances in small open economies. We describe household decisions on education and …

While there has been a substantial effort to understand the Demographic Transition
alongside the transition to sustained economic growth, fertility fluctuations have not been …

South Koreans appear to be preoccupied with their offspring's education and also have the
lowest total fertility rate in the world. We propose a novel theory with status externalities and …

We consider an overlapping generations economy, where parents are altruistic towards their
children, and children provide old-age support to parents. We show that when the education …

Abstract East Asians, especially South Koreans, appear to be preoccupied with their
offspring's education---most children spend time in expensive private institutes and in cram …

This paper studies the macroeconomic consequences of large-scale family policies in a
heterogeneous-agent overlapping generations model with endogenous fertility and child …

It is known that when people generate externalities, a birth also generates an externality and
efficiency requires a Pigou tax/subsidy on having children. The size of the externality from a …

Fertility choices depend not only on the surrounding culture but also on economic
incentives, which have important consequences for inequality, education and sustainability …