De La Croix, Lindh and Malmberg (2006) point out that longer life expectancy raises the expected return from human capital investments and thus creates incentives to accumulate more education and training. 24  An exception is Becker, Murphy and Tamura (1990), who built a model that endogenises the human capital investment decision and also its link to fertility decisions.
In their model, if the stock of physical capital is relatively large, the returns to education would become relatively attractive (higher expected real wages) and the cost of raising children would increase. See also Hock and Weil (2006) and Weil (2006).