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Journal of Economic Growth

, Volume 16, Issue 2, pp 157–181 | Cite as

Leisure goods, education attainment and fertility choice

  • Ragchaasuren Galindev
Article

Abstract

This paper proposes a novel mechanism for the fertility decline that occurred across the world since the late nineteenth century. It suggests that the rise in the cost of children relative to leisure goods in the process of development contributed to the decline in fertility. The paper develops a unified growth model in which children are substitutes for leisure goods in the parental utility function. The theory suggests that the rise in income, the decline in the relative price of leisure goods and the increase in educational attainment in the process of development speed up the demographic transition from high to low fertility and contributed to the transition from stagnation to growth.

Keywords

Fertility Leisure goods Technological progress Growth 

JEL Classification

J13 O11 O33 O40 

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Copyright information

© Springer Science+Business Media, LLC 2011

Authors and Affiliations

  1. 1.Queen’s University Management SchoolQueens University BelfastBelfastUK

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