TY  - RPRT
        AU  - Frühwirth-Schnatter, Sylvia
AU  - Halla, Martin
AU  - Posekany, Alexandra
AU  - Pruckner, Gerald J.
AU  - Schober, Thomas
        TI  - The Quantity and Quality of Children: A Semi-Parametric Bayesian IV Approach
        PY  - 2014/Mar/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 8024
        UR  - https://www.iza.org/index.php/publications/dp8024
        AB  - Prior empirical research on the theoretically proposed interaction between the quantity and the quality of children builds on exogenous variation in family size due to twin births and focuses on human capital outcomes. The typical finding can be described as a statistically nonsignificant two-stage least squares (2SLS) estimate, with substantial standard errors. We regard these conclusions of no empirical support for the quantity-quality trade-off as premature and, therefore, extend the empirical approach in two ways. First, we add health as an additional outcome dimension. Second, we apply a semi-parametric Bayesian IV approach for econometric inference. Our estimation results substantiate the finding of a zero effect: we provide estimates with an increased precision by a factor of approximately twenty-three, for a broader set of outcomes.
        KW  - quantity-quality model of fertility
KW  - family size
KW  - human capital
KW  - health
KW  - semi-parametric Bayesian IV approach
        ER  -