Inter-generational habit formation in fertility and its effect on economic growth

2019 Fiscal Year Final Research Report

• Project/Area Number: 17K13710
• Research Category: Grant-in-Aid for Young Scientists (B)
• Allocation Type: Multi-year Fund
• Research Field: Economic theory
• Research Institution: University of Marketing and Distribution Sciences (2019); Okayama University of Science (2017-2018)
• Principal Investigator: MIHARA Yuko 流通科学大学, 経済学部, 准教授 (80614875)
• Project Period (FY): 2017-04-01 – 2020-03-31
• Keywords: 出生率 / 子ども手当て / 世代間の習慣形成

Outline of Final Research Achievements

For this study, we analyzed how Inter-generational habit formation in fertility affects economic growth and also suggest policy implications. We use overlapping generations model with inter-generational habit formation in fertility with an awareness of the inter-generational spillover. First, we found that the intensity of the effect of the inter-generational spillover is high, the fertility rate is high and GDP per capita is low. Next, we showed that the optimal solution has a higher fertility rate than that under the competitive equilibrium ,and that instead of reducing the cost of raising a child to zero, child allowance scheme cannot help achieve welfare optimization.

Free Research Field

人口経済学、社会保障論、開発経済学

Academic Significance and Societal Importance of the Research Achievements

人口減少局面に突入した日本において、人々が子を何人産もうとするか、といった意思決定に注目し、どのような要因によって少子化が進むかについて、そのメカニズムを明らかにすることは非常に重要である。人々の出生に関する意思決定は自身の幼少期の家族環境に影響を受ける可能性を示すデータを意識しながら、これまであまり意識されてこなかった、出生率に関する世代間の習慣形成を考慮し、習慣形成の程度が出生率や経済成長に及ぼす影響について考察を行うことは、重要なインプリケーションを持つと考えられる。