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Frey and colleagues outline 10 trends showing scale of America's demographic transitions

Starr says surveys intended to predict recidivism assign higher risk to poor

Prescott and colleagues find incidence of noncompetes in U.S. labor force varies by job, state, worker education

Highlights

PAA 2015 Annual Meeting: Preliminary program and list of UM participants

ISR addition wins LEED Gold Certification

PSC Fall 2014 Newsletter now available

Martha Bailey and Nicolas Duquette win Cole Prize for article on War on Poverty

Next Brown Bag

Mon, March 9
Luigi Pistaferri, Consumption Inequality and Family Labor Supply

psc brown bag iconWhat Explains Fertility? Evidence from Italian Pension Reforms

Francesco Billari (Director, Dondena Centre for Research on Social Dynamics, University of Bocconi, Milano, Italy)

03/02/2009, at noon in room 6050 ISR-Thompson.

Why 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.


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