Childbearing and the distribution of the reservation price of fertility: The case of the Korean baby bonus program

Autor:	Dahae Choo, Hugo Jales
Rok vydání:	2021
Předmět:	Baby bonus Economics and Econometrics business.industry media_common.quotation_subject Distribution (economics) Fertility Orders of magnitude (bit rate) Reservation price Incentive Economics Demographic economics Fertility Effects business Finance media_common
Zdroj:	Journal of Asian Economics. 77:101395
ISSN:	1049-0078
DOI:	10.1016/j.asieco.2021.101395
Popis:	We study the fertility effects of a Korean pro-natalist policy. We show that using the same assumptions and the same binary-choice models used in this literature, and we can estimate the entire unconditional distribution of the reservation price of fertility, which is the minimal compensation an agent must receive to induce her to have a (or an additional) child. Our estimates show that the program’s benefit level and budget would have to be orders of magnitude (about 15 times) larger for the program to bring South Korea back to desired levels of fertility. We also found that over 74% of the program’s expenditures are associated with infra-marginal births – these are births that would have occurred even in the absence of the financial incentive. We show that this is likely not a unique characteristic of the Korean pro-natalist policy but instead a problem of most programs of this nature.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::64af7c0dfbfd8ec97a7da2c520298d4b https://doi.org/10.1016/j.asieco.2021.101395 Zobrazit plný text záznamu Full Text from ScienceDirect