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Fertility, Money Holdings, and Economic Growth: Evidence from Ukraine

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  • Svitlana Maksymenko

    (Department of Economics, University of Pittsburgh, 4703 Posvar Hall, 230 S. Bouquet Street, Pittsburgh, PA 15260, USA.)

Abstract

This paper investigates declining fertility in Eastern Europe. By synthesising recent theoretical findings, this paper identifies the channels through which the economy and fertility interact. The study uses a multi-variable vector autoregression model to determine the short- and the long-run responses of fertility to unemployment, money holdings, and output growth disturbances in the Ukrainian economy. We find that labour market conditions and households’ money holdings are indeed important determinants of family decisions to bear and rear children. Unemployment disturbances and monetary incentives explain more than a third of fertility variations. The impulse response, variance decomposition, and sensitivity analyses suggest a wide range of policy options to address the issue of declining fertility in transition countries. Comparative Economic Studies (2009) 51, 75–99. doi:10.1057/ces.2008.45

Suggested Citation

  • Svitlana Maksymenko, 2009. "Fertility, Money Holdings, and Economic Growth: Evidence from Ukraine," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 51(1), pages 75-99, March.
    • Handle: RePEc:pal:compes:v:51:y:2009:i:1:p:75-99
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    Cited by:

    1. Chang, Wen-ya & Chen, Ying-an & Chang, Juin-jen, 2013. "Growth and welfare effects of monetary policy with endogenous fertility," Journal of Macroeconomics, Elsevier, vol. 35(C), pages 117-130.
    2. Vasilaky, Kathryn, 2011. "The effects of school quality on fertility in a transition economy," MPRA Paper 38965, University Library of Munich, Germany.
    3. Patrik Rovný & Serhiy Moroz & Jozef Palkovič & Elena Horská, 2021. "Impact of Demographic Structure on Economic Development of Ukrainian Coastal Regions," Sustainability, MDPI, vol. 13(4), pages 1-19, February.

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