Demographic Transition and Post-Transition Population Dynamics: A Review of Micro and Macro Economic Models and Interactions

This literature review contrasts microeconomic fertility models during the demographic and post-transitional periods, evaluating their implications for macroeconomic growth models. While microeconomic fertility models stress the trade-off between child quality and quantity during the demographic transition, the extensive and intensive margin fertility model applies to the post-transition period, with implications for childlessness and the postponement of childbearing. The impact of micro decisions on economic growth is more substantial during the demographic transition than in the post-transition period. Low or negative population growth during the post-transition period may stall economic growth.