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fertility and therefore to a need for government intervention. The friction we investigate is related to the ownership of … whenever thetransfer floor is binding, fertility choices are inefficient. We show how this inefficiency relates to dynamic … inefficiency in standard OLG models with exogenous fertility and Millian efficiency in models with endogenous fertility. In …
Persistent link: https://www.econbiz.de/10010878020
In this paper, we explore the issue of gender differences in education in the context of a two-sexoverlapping generations model where men and women of each generation bargain over consumption, number of children, and investment in education of their children conditional on gender, andparents are...
Persistent link: https://www.econbiz.de/10005212574
retirement age aiming at offsetting the effects on the supply of labour following fertility changes. We find that the retirement … age should increase more than proportionally to the direct fall in the labour supply caused by a fall in fertility. The …
Persistent link: https://www.econbiz.de/10009225862
Persistent link: https://www.econbiz.de/10010557760
We explore the optimal fertility age-pattern in a four-period OLG economy with physical capital accumulation. For that …'s Serendipity Theorem still holds. Finally, we study the dynamics and social optimum of an economy with interior fertility rates … during the reproduction period. It is shown that various fertility age-patterns are compatible with the social optimum, as …
Persistent link: https://www.econbiz.de/10010610502
We explore the optimal fertility timing in a four-period OLG economy with physical capital, whose specificity is to … include not one, but two reproduction periods. It is shown that, for a given total fertility rate, the economy exhibits quite … that there is no one-to-one substitutability between early and late fertility. We also extend Samuelson’s Serendipity …
Persistent link: https://www.econbiz.de/10010758634
annuity market with actuarially fair return, imposing the optimum fertility rate and the optimum survival rate leads the …
Persistent link: https://www.econbiz.de/10008516767
In this paper a particular market failure that may lead to inefficiently low equilibrium fertility and therefore to a … than the social benefit. We present an overlapping-generations (OLG) model with fertility choice and altruism, and model …
Persistent link: https://www.econbiz.de/10008543088
annuity market with actuarially fair return, imposing the optimum fertility rate and the optimum survival rate leads the …
Persistent link: https://www.econbiz.de/10008550247
failure that may lead to inefficiently low equilibrium fertility and therefore to a need for government intervention. The …) model with fertility choice and altruism, and model ownership by introducing a minimum constraint on transfers from parents … transfer floor is binding, fertility choices are inefficient. We show how this inefficiency relates to dynamic inefficiency in …
Persistent link: https://www.econbiz.de/10008468613