Contains the building blocks of the subsequent theoretical analysis. Kaushik Basu’s model of the market for adult-equivalent labour explains child labour essentially as a consequence of binding subsistence requirements. Gary Becker’s dynastic model explains fertility decisions, and transfers from parents to children, as a consequence of altruism. The present authors explain fertility decisions, and transfers between parents and children, with the possible existence of self-enforcing family constitutions. In all three models, child labour (transfers to children) can be inefficiently high (low).
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