Furceri and Karras(2007, 2008) insisted that smaller countries are subject to more volatile business cycles than larger countries and country size really matters using international data from 1960 to 2000. They measure country size with population size. In this paper, we calculate welfare...

This paper analyses the effectiveness of child-subsidy support policies in a general equilibrium overlapping generations model with endogenous fertility, child quality choices and human capital formation. It is shown, somewhat paradoxically, that only if the preference for the quality of...

Using panel cointegration analysis, we show that a cointegration relationship exists among fertility choice, infant mortality, real wages and real per capita output. The results suggest that in low mortality economies reductions in infant mortality will decrease fertility.

Real GDP growth rate in developed countries is found to be a sum of two terms. The first term is the reciprocal value of the duration of the period of mean income growth with work experience, Tcr. The second term is defined by relative change of the number of people of specific age (9 years of...

Using data from the European Social Survey, we investigate the influence of individuals' self-perceptions of being a member of an age group on their assessment of the beginning of ‘old age'. The proper examination of this relationship calls for the consideration of the effects of age and...

We analyze the effect of stochastic survival of children on fertility decision in a dynastic utility model where saving, so to speak, can only be made through having children, the number of which is an endogenous decision to the household. In our stochastic framework where the rate of population...

This paper analyzes the interiority of the optimal population growth rate in a two-period overlapping generations model with endogenous fertility as compared to the case with exogenous fertility analyzed by Samuelson (1975) and Deardorff (1976).

The Atlas Narodov Mira has been used extensively to investigate the effects of ethnic divisions, but little is known about how it defines ethnicity. Most theories of ethnicity emphasize the tendency of group members to marry within the group (endogamy). This note surveys studies of ethnic...

This paper analyzes the effects of child allowance on households without a child with respect to the pay-as-you-go public pension system. We demonstrate that the child allowance can improve the utilities of households without a child through an increased pension benefits when the rate of...

We have developed a computable endogenous growth OLG model generated by the accumulation of human capital. To study whether policy reform against aging make any quantitative impacts through human capital formation on the Japanese economy and whether it has long-run effect, we simulate two policy...