英文摘要 |
The effect of baby bonuses on fertility is a critical consideration in evaluating fertility subsidy policies. Drawing on the variation in baby bonuses across cities and counties in Taiwan from 1999 to 2019, and integrating it with administrative data on county-level birth rates, our estimates indicate that an increase of 10,000 NTD in baby bonuses results in a rise of 0.1 children in the total fertility rate for childbearing-age women. Additional subsidies for a second child also positively influence birth rates. Although baby bonuses enhance fertility, the elasticity of the fertility rate to the baby bonus stands at a mere 0.052—a 10% increase in the baby bonus results in a roughly 0.52% increase in the total fertility rate for childbearing-age women. |