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| Author: | Becker, G. S. |
| Title: | Family economics and macro behavior |
| Journal: | American Economic Review
1988 : MAR, VOL. 78:1, p.1-13 |
| Index terms: | FAMILIES ECONOMICS ECONOMIC GROWTH SOCIAL SECURITY |
| Language: | eng |
| Abstract: | The contribution to macroeconomics from the progress in family economics is explored. Long-term economic growth, short and long cycles in economic activity, the interaction between overlapping generations are discussed. The Malthusian theory is analyzed. Neoclassical models are described. Problems are highlighted. A modified neoclassical model is sketched where parents choose both the number of children and the capital bequeathed to each child. The role of Social Security systems is outlined. The relation between family behavior and cycles in aggregate output and other variables is examined. Family behavior is described as an active and endogenous factor. |
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