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Dynamic microeconomic models of fertility choice: A survey

Abstract.

We review existing approaches to the specification and estimation of dynamic microeconomic models of fertility. Dynamic fertility models explain the evolution of fertility variates over the life-cycle as the solution to a dynamic programming model involving economic choices. Dynamic models may be classified into structural and reduced-form models. Structural models generally require solution of the underlying dynamic programming problem. Reduced-form models, while based on a structural specification, do not. Recent innovations in estimation methodologies make both types practical and realistic alternatives to static models of lifetime fertility. JEL classification: J13, C41, C61

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Received August 26, 1994/Accepted October 23, 1996

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Arroyo, C., Zhang, J. Dynamic microeconomic models of fertility choice: A survey. J Popul Econ 10, 23–65 (1997). https://doi.org/10.1007/s001480050030

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  • DOI: https://doi.org/10.1007/s001480050030

  • Key words: Fertility
  • dynamic micro models