Showing 1 - 10 of 14
In a standard OLG model of a small open economy with logarithmic utility and endogenous fertility we show that the … reversion of the relationship between fertility and wages (i.e. a transition from the Malthusian to the Modern fertility … fact, as known, the latter have been implemented mostly in the advanced Western Countries, where the fertility behavior …
Persistent link: https://www.econbiz.de/10010933029
This paper provides a simplified version of the perfectly flexible wages OLG model proposed by Hahn and Solow (1995). Using a Cobb-Douglas specification for the utility and the production functions, we demonstrate that the local stability of the steady-state equilibrium depends only on...
Persistent link: https://www.econbiz.de/10005769620
In this paper we show that, when endogenous fertility choices are accounted for, the traditional rule provided by … overaccumulation of physical capital). The reason for this result is that, when fertility choices are taken as endogenous, a further …
Persistent link: https://www.econbiz.de/10005604247
Public debt and fertility are two issues of major concern in the current debate about economic policy, especially in … countries with below replacement fertility and large debt. In this paper we show that public debt is in general harmful for … fertility, in that debt issuing almost ever crowds out fertility. The relationship is reversed only if debt is sufficiently low …
Persistent link: https://www.econbiz.de/10005015202
this paper we show that, when elastic labor supply is considered via Cobb Douglas preferences, dynamic inefficiency of OLG economies, while being still a necessary condition, is no longer sufficient for an internal public debt increase to generate a Pareto improvement. This is due to the fact...
Persistent link: https://www.econbiz.de/10005636468
In the present work we show that, when one allows for endogenous fertility in Diamonds (1965) OLG model, public debt …¢cient condition for welfare improvements to obtain via debt increases, since, in presence of endogenous fertility, the optimal level … of debt is typically lower than the one associated to the traditional Golden Rule. Hence, not taking fertility choices …
Persistent link: https://www.econbiz.de/10005636470
In this paper we show that, when endogenous fertility is considered via Cobb-Douglas preferences, public debt plays a …
Persistent link: https://www.econbiz.de/10005636479
Motivated by the increasing literature on endogenous preferences as well as on endogenous fertility, this paper …
Persistent link: https://www.econbiz.de/10010932989
We extend the two-period-lived-agent overlapping generations model with endogenous fertility and demand for money to … understand whether and how the introduction of a money sector modifies what we have so far learned about fertility behaviours. It …
Persistent link: https://www.econbiz.de/10010933007
Motivated by the increasing literature on endogenous preferences, this paper investigates the implications of the introduction of habit and aspiration formation when labour supply is endogenous, in an OLG small open economy. In contrast with models with exogenous labour supply where aspirations...
Persistent link: https://www.econbiz.de/10010933011