Download This PaperLong-Run Fertility and General Equilibrium Effects of a Universal Child Voucher Program
57 Pages Posted: 10 Jul 2019 Last revised: 30 May 2025
Date Written: May 30, 2025
Abstract
We evaluate the effects of Maternity Capital, a universal voucher program aimed at increasing fertility in Russia. The program led to a significant rise in fertility during its first fifteen years of operation and has already contributed to higher completed fertility among a large cohort of Russian women. In addition, the program generated persistent general equilibrium effects. In the housing market, it increased prices and stimulated new housing construction. In the education sector, which had been predominantly public before the program, it encouraged the growth of the private education sector.
Keywords: Fertility, Housing, Child subsidy, Pronatalist policies, Maternity Capital, General equilibrium effects, Voucher Benefit
JEL Classification: J13, H1, J08, H5
Suggested Citation: Suggested Citation
Long-Run Fertility and General Equilibrium Effects of a Universal Child Voucher Program
(May 30, 2025). Available at SSRN: https://ssrn.com/abstract=3416509 or http://dx.doi.org/10.2139/ssrn.3416509