We simulate a two period olg-model with heterogeneous agents. Parents receive utility from quantity and quality of their offspring. Generating a trade-off between the former and the latter, an increasing wage rate leads to higher opportunity costs, lower fertility, and higher quality of the...

Even though most countries have agreed to a harmonization of intellectual property rights by signing the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS), there is still much dispute about the optimal level of protection of intellectual property rights in the world....

We analyze the effects of demographic change on medium- and long-run economic growth by setting forth an R&D-based growth model including an endogenous demographic structure. The model framework is consistent with the experience of industrialized countries, where declines in mortality are...