OURA Asuka   Faculty of Economics Department of Socio-Economics   Associate Professor

■ Title   Under- and over-investment in education: the role of locked-in fertility

■ Outline   This research argues that, in the presence of idiosyncratic ability shocks after childbirth, irreversible fertility decisions distort the resource allocation between the quantity and quality of children. In underdeveloped environments, where family size is locked into large levels, education investment places a heavy financial burden on households, which deprives some competent children of learning opportunities. In contrast, in more developed environments, family size is locked into smaller levels, which facilitates education investment even for some children with low aptitude. A redistributive policy to mitigate the distortion is proposed for each stage.   Masao Nakagawa, Asuka Oura, Yoshiaki Sugimoto   Collaboration   Journal of Population Economics   Springer   35(2),pp.755--784   2022/04

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