Children: consumption goods or investment goods?

Vincenzo Galasso interviewed by Romesh Vaitilingam, 7 Nov 2008

By analysing the effects of a pension reform in Italy, Vincenzo Galasso of Bocconi University has been able to explore why people might decide to have children – because they like them or to provide security in old age. In an interview recorded at the annual congress of the European Economic Association in Milan in August 2008, he talks to Romesh Vaitilingam about his surprising finding that people facing the prospect of reduced pension benefits when they retire have increased their fertility.


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Topics: Welfare state and social Europe
Tags: children, pensions

Associate Professor of Economics, IGIER, Boccony University and CEPR Research Affiliate