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Income distribution and macroeconomics revisited: The role of fertility adjustment

Nakagawa, Masao; Sugimoto, Yoshiaki - 2009

This paper develops a theory in which households prepare for future education by adjusting the number of children they …

Persistent link: https://www.econbiz.de/10010332195

How to Avoid a Pension Crisis: A Question of Intelligent System Design

Cigno, Alessandro - 2009

Conventional pension systems suffer from a design defect which makes them financially unsustainable, and a source of inefficiency for the economy as a whole. The paper outlines a second-best policy which includes a public pension system made up of two parallel schemes, a Bismarckian one allowing...

Persistent link: https://www.econbiz.de/10010331423

Endogenous Growth with Endogenous Fertility and Social Discrimination in Education

Schäfer, Andreas - 2002

We simulate a two-sectoral, three-period OLG-model with endogenous fertility and endogenous education. Parents receive … increase and fertility declines dur- ing the process of economic development. Therefore, the model is able to explain the … recent fertility decline, in all developed countries, and to single out the determinants for long-run growth in per capita …

Persistent link: https://www.econbiz.de/10010319324

Fertility, Female Labor Supply, and Family Policy

Fehr, Hans; Ujhelyiova, Daniela - 2010

The present paper develops a general equilibrium model with overlapping generations and endogenous fertility in order … to analyze the interaction between public policy and household labor supply and fertility decisions. The model …'s benchmark equilibrium reflects the current family policy as well as the differential fertility pattern of educational groups in …

Persistent link: https://www.econbiz.de/10011600973

Habit Formation, Dynastic Altruism, and Population Dynamics

Schäfer, Andreas; Valente, Simone - 2007

endogenous fertility. In the neoclassical model, habits modify the economy's growth rate and generate transitional dynamics in … fertility; station- ary income per capita is associated with either increasing or decreasing population and output, depending on … fertility: the trade-off between second-period consumption and spending for bequests prompts agents to decrease fertility in …

Persistent link: https://www.econbiz.de/10011753141

Population Ageing and Pension Reform in a Small Open Economy with Non-Traded Goods

Bettendorf, Leon; Heijdra, Ben - 2005

In this paper we study the implications of population ageing in an economy with a sizeable non-traded goods sector. To this effect a highly stylized micro-founded macro model is constructed in which the age structure of the population plays a non-trivial role. The model distinguishes separate...

Persistent link: https://www.econbiz.de/10010325541

Trading off generations: Infinitely lived agent versus OLG

Schneider, Maik T.; Traeger, Christian; Winkler, Ralph - 2012

The prevailing literature discusses intergenerational trade-offs in climate change predominantly in terms of the Ramsey equation relying on the infinitely lived agent model. We discuss these trade-offs in a continuous time OLG framework and relate our results to the infinitely lived agent...

Persistent link: https://www.econbiz.de/10010280972

Provision of a public good with altruistic overlapping generations and many tribes

Karp, Larry S. - 2012

Intergenerational altruism and contemporaneous cooperation are both important to the provision of long-lived public goods. Equilibrium climate protection may depend more sensitively on either of these considerations, depending on the type of policy rule one examines. This conclusion is based on...

Persistent link: https://www.econbiz.de/10010283613

Saddles, indeterminacy and bifurcations in an overlapping generations economy with a renewable resource

Koskela, Erkki; Ollikainen, Markku; Puhakka, Mikko - 2002

We incorporate a renewable resource into an overlapping generations model with standard, well-behaved utility and constant returns production functions. Besides being a factor of production the resource serves as a store of value. We characterize dynamics, efficiency and stability of steady...

Persistent link: https://www.econbiz.de/10010284957

Optimal forest policies in an overlapping generations economy with timber and money bequests

Amacher, Gregory S.; Koskela, Erkki; Ollikainen, Markku - 2001

This paper studies optimal forest policies in an overlapping generations forest economy with one-sided altruism, where timber and monetary bequests can be made across generations and forest amenities are a public good. We extend the existing economics literature by demonstrating that timber...

Persistent link: https://www.econbiz.de/10010285086