This paper examines the effects on economic growth attributable to government policies of child allowances and educational subsidies. We show that multiple steady states may arise under these two policies, with club convergence occurring, and the initial condition being of relevance, if the tax...

This paper studies the effect of population aging and international migration on economic performance. Fertility is endogenized so that immigrants and natives can have different fertility rates, which provides a more realistic view of policy effects. Fertility is an important determinant to the...