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We examine the role of changing mortality in explaining the rise of retirement over the course of the 20th century. We construct a model in which individuals make labor/leisure choices over their lifetimes subject to uncertainty about their date of death. In an environment in which mortality is...
Persistent link: https://www.econbiz.de/10005126354
This paper examines the relationship between fertility and human capital investment, and it’s implications for economic growth, focusing on the e ects of declining mortality. Unlike the existing literature, this paper stresses the role of uncertainty about the number of surviving children. If...
Persistent link: https://www.econbiz.de/10005126196
development across most of human history induced growth theorists to advance an alternative theory that captures in a single … between these distinct regimes. Unified growth theory reveals the underlying micro foundations that are consistent with the … growth process over the entire history of the human species, enhancing the confidence in the viability of the theory, its …
Persistent link: https://www.econbiz.de/10005062763
This paper analyzes qualitatively and quantitatively the e ects of declining mortality rates on fertility, education and economic growth. The analysis demonstrates that if individuals are prudent in the face of uncertainty about child survival, a decline in an exogenous mortality rate reduces...
Persistent link: https://www.econbiz.de/10005412569
theorists to advance an alternative theory that captures in a single unified framework the epoch of Malthusian stagnation, the … modern era of sustained economic growth, and the recent transition between these distinct regimes. Unified growth theory … species, enhancing the confidence in the viability of the theory, its predictions and its policy implications for the growth …
Persistent link: https://www.econbiz.de/10005556052
The demographic transition that swept the world in the course of the last century has been identified as one of the prime forces in the transition from stagnation to growth. The unprecedented increase in population growth during the early stages of industrialization was ultimately reversed and...
Persistent link: https://www.econbiz.de/10005556697
such strategic manipulations on private intergenerational transfers, fertility and savings decisions, and on Pareto …
Persistent link: https://www.econbiz.de/10005076531
, fertility and savings decisions, and on Pareto optimality of equilibrium allocation. We show that the learning equilibrium …
Persistent link: https://www.econbiz.de/10005408281
to argue the presence of 'skill biased technological progress'. The literature explaining household savings has also …This paper explores the consequences of rising returns to human capital investment on the personal savings rate. Over … negative relationship between returns to education and savings rates across most of the past century and also a negative …
Persistent link: https://www.econbiz.de/10005076792
MOBILIZING DOMESTIC SAVINGS FOR DEVELOPMENT AND THE CONSTRAINTS IN THE EFFICIENT PERFORMANCE OF THIS ROLE. EMPIRICAL EVIDENCE …
Persistent link: https://www.econbiz.de/10005076971