{
  "title": "Chart of the Week: Bye Bye Baby—How Crises Affect Fertility Rates",
  "publication": "IMF Blog, November 13, 2018",
  "sourceUrl": "https://www.imf.org/en/blogs/articles/2018/11/13/chart-of-the-week-bye-bye-baby-how-crises-affect-fertility-rates",
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  "summary": "In the decade before the global financial crisis, the fertility rate rose in several advanced economies; it declined afterward.",
  "sections": [
    {
      "heading": "Key findings on fertility trends",
      "content": "- In the decade before the global financial crisis, the fertility rate rose in several advanced economies; it declined afterward.\n- United States: fertility rate fell from a peak of 2.12 in 2007 to 1.8 in 2016.\n- European examples (countries that suffered a double-dip recession): fertility rate decreased from 1.5 to about 1.3 over the same time period."
    },
    {
      "heading": "Evidence and channels linking crises to fertility",
      "content": "- Evidence from Organisation for Economic Co-operation and Development countries shows that employment losses were the most important channel through which the crisis affected fertility rates.\n- Other studies identify additional factors influencing family-size decisions:\n  - higher women’s participation in the workforce,\n  - a desire for smaller families,\n  - cuts to welfare systems."
    },
    {
      "heading": "Macroeconomic implications",
      "content": "- Persistently low birth rates over the past decade will slow the growth rate of the labor force of the future in these countries.\n- Slower labor force growth will weaken potential output growth.\n- If immigration were to decline, fewer babies will exacerbate the already aging and shrinking populations of many countries."
    },
    {
      "heading": "Policy recommendations for advanced economies",
      "content": "- Policymakers will need to tackle the trend and find ways to encourage women to have children. Examples include:\n  - increasing access to affordable and high-quality childcare,\n  - implementing family-friendly labor laws,\n  - adopting tax policies that do not penalize secondary earners.\n\nThe Editors — November 13, 2018\n\n---\n\n Content in this bundle\n\n- C2\n  - C2 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - C2 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\n References\n\n- decade ago\n- World Economic Outlook\n- https://www.imf.org/wp-content/uploads/2018/11/eng-september-28-weoch2.png\n\nSource: https://www.imf.org/en/blogs/articles/2018/11/13/chart-of-the-week-bye-bye-baby-how-crises-affect-fertility-rates"
    }
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    "Authors: The Editors",
    "Published: November 13, 2018",
    "In the decade before the global financial crisis, the fertility rate rose in several advanced economies; it declined afterward.",
    "United States: fertility rate fell from a peak of 2.12 in 2007 to 1.8 in 2016.",
    "European examples (countries that suffered a double-dip recession): fertility rate decreased from 1.5 to about 1.3 over the same time period.",
    "Evidence from Organisation for Economic Co-operation and Development countries shows that employment losses were the most important channel through which the crisis affected fertility rates.",
    "Other studies identify additional factors influencing family-size decisions:",
    "Persistently low birth rates over the past decade will slow the growth rate of the labor force of the future in these countries.",
    "Slower labor force growth will weaken potential output growth.",
    "If immigration were to decline, fewer babies will exacerbate the already aging and shrinking populations of many countries.",
    "Policymakers will need to tackle the trend and find ways to encourage women to have children. Examples include:",
    "**C2**",
    "[decade ago](https://blogs.imf.org/2018/09/05/ten-years-after-lehman-lessons-learned-and-challenges-ahead/)",
    "[World Economic Outlook](https://www.imf.org/en/Publications/WEO/Issues/2018/09/24/world-economic-outlook-october-2018)",
    "[https://www.imf.org/wp-content/uploads/2018/11/eng-september-28-weoch2.png](https://www.imf.org/wp-content/uploads/2018/11/eng-september-28-weoch2.png)"
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