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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

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

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

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

Pollution, Health and Life Expectancy: How Environmental Policy Can Promote Growth

Pautrel, Xavier - 2007

This article investigates the influence of environmental policy on growth assuming that the channel of transmission relies on the link between pollution, health and the survival probability, in an overlapping generations model à la Blanchard (1985) where growth is driven by a mechanism à la...

Persistent link: https://www.econbiz.de/10010312526

Trading off generations: Infinitely-lived agent versus OLG

Schneider, Maik T.; Traeger, Christian; Winkler, Ralph - 2010

The prevailing literature discusses intergenerational trade-offs predominantly in infinitely-lived agent models despite the finite lifetime of individuals. We discuss these trade-offs in a continuous time OLG framework and relate the results to the infinitely-lived agent setting. We identify...

Persistent link: https://www.econbiz.de/10010316064

The evolution of public spending on higher education in a democracy

Haupt, Alexander - 2005

This paper analyses political forces that cause an initial expansion of public spending on higher education and an ensuing decline in subsidies. Growing public expenditures increase the future size of the higher income class and thus boost future demand for education. This demand shift implies...

Persistent link: https://www.econbiz.de/10010261394

Fiscal policy, monopolistic competition, and finite lives

Heijdra, Ben J.; Ligthart, Jenny E. - 2006

The paper studies the short-run, transitional, and long-run output effects of permanent and temporary shocks in public consumption under various financing methods. To this end, a dynamic macroeconomic model for a closed economy is developed, which features a perfectly competitive final goods...

Persistent link: https://www.econbiz.de/10010261412