英文摘要 |
This paper develops an endogenous-population growth model to examine the impact of status-seeking behavior and child-bearing costs on the economic growth and fertility rates. We find that higher bearing costs will lower the fertility rate, but they might raise the output growth rate. On the other hand, the effects of birth allowance on fertility and economic growth are theoretically ambiguous. We also find that a stronger statusseeking motive will reduce the fertility rate since it leads to resources reallocation towards status goods. This result may explain why the fertility rates in developed countries are lower. Moreover, whether agents’ status-seeking behavior stimulates economic growth or not depends on the nature of status goods. If status goods are wealth-oriented, the output growth rate will be higher because of stimulated capital accumulation. By contrast, slower economic growth results if the status good is consumption-oriented. This finding may explain the different growth experiences between U.S. and Taiwan. |