Jesús Fernández-Villaverde: Global fertility rates are below replacement levels, low fertility poses challenges to welfare states, and the quality-quantity trade-off explains declining birth rates | Macro Musings

Jesús Fernández-Villaverde: Global fertility rates are below replacement levels, low fertility poses challenges to welfare states, and the quality-quantity trade-off explains declining birth rates | Macro Musings

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• Wed, 25 Mar 2026 20:25:53 +0000