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adult couple assumption Basu budget constraint capital per couple capital-owning households child labor equilibrium child's education Consider consumption couple's decrease Demographic Transition developed steady Developing Countries dissertation Doctor of Philosophy earnings per unit Economic Development empirical equation equilibria without child factors of production female earnings female education fertility and income Fertility In Developing forgone gender model government spending higher impact Journal of Political labor in non-market labor in period labor market labor-owning households level of physical male earnings male education marginal product market and non-market market production market sector mortality multiple equilibria negative non-market production non-market sector number of children opportunity cost parameters parent parent's education period t-I physical capital Population positive level potential quality of education raw labor relationship between fertility return to human savings Schultz sequence of child sequence of equilibria spent in education stock of physical transition utility function wage per unit World Bank