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dc.contributor.authorBillari, Francesco C.en_US
dc.contributor.authorGalasso, Vincenzoen_US
dc.date.accessioned2009-06-29en_US
dc.date.accessioned2010-05-14T08:20:19Z-
dc.date.available2010-05-14T08:20:19Z-
dc.date.issued2009en_US
dc.identifier.urihttp://hdl.handle.net/10419/30500-
dc.description.abstractWhy 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.en_US
dc.language.isoengen_US
dc.publisherCESifo Münchenen_US
dc.relation.ispartofseriesCESifo working paper 2646en_US
dc.subject.jelH55en_US
dc.subject.jelJ13en_US
dc.subject.jelD64en_US
dc.subject.ddc330en_US
dc.subject.keywordold-age securityen_US
dc.subject.keywordpublic pension systemsen_US
dc.subject.keywordfertilityen_US
dc.subject.keywordaltruismen_US
dc.subject.stwFruchtbarkeiten_US
dc.subject.stwKinderen_US
dc.subject.stwInvestitionen_US
dc.subject.stwKonsumguten_US
dc.subject.stwRentenreformen_US
dc.subject.stwBevölkerungsentwicklungen_US
dc.subject.stwItalienen_US
dc.titleWhat explains fertility? : evidence from Italian pension reformsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn603335268en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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