Article,

The effect of the business cycle at college graduation on fertility

, and .
Economics of Education Review, (December 2016)

Abstract

We investigate whether a downturn at college graduation affects fertility among graduates in the years after graduation. Using survey data of the German National Educational Panel Study covering more than 30 years observation period, we find that a recession at graduation affects female fertility but not male. A downturn at college graduation increases the transition rate to the first pregnancy among female graduates significantly. This effect is driven by female graduates aged 25 or older at graduation. Further, the effect is strongest two to four years after graduation and then decreases over time. We do not find an effect of graduating in a downturn on completed fertility.

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