“…Second, this paper contributes to understanding the consequences of China's "Later, Longer, Fewer" campaign. There is a huge literature estimating the effect of China's family planning policies on various outcomes, including: savings rate (Banerjee, Meng, and Qian 2010;Wei and Zhang 2011;Curtis, Lugauer, and Mark 2015;Choukhmane, Coeurdacier, and Jin 2016;Ge, Yang, and Zhang 2018), marriage (Huang and Zhou 2015), labor supply (Huang 2016;Zhang 2017), children's outcomes (Li, Zhang, and Zhu 2008;Qian 2009;Liu 2014;Li and Zhang 2017;Qin, Zhuang, and Yang 2017), parental health (Chen and Lei 2009;Wu and Li 2012;Islam and Smyth 2015), rural-urban migration (Wang, Zhao, and Zhao 2017;Zhang 2017), and female empowerment (Huang 2016). However, the term "family planning policies" in those studies is almost identical to the "one-child policy."…”