This article studies socially optimal allocations, from the point of view of a benevolent social planner, in environments characterized by fixed resources, endogenous fertility, and full information. Individuals in our environment are fully rational and altruistic toward their descendants. Our...

A key aim of economics is to set goals and investigate the relationship between various socio-economic indicators. By fitting time series data using a Bayesian dynamical systems approach we identify non-linear interactions between GDP, child mortality, fertility rate and female education. We...

This paper analyzes the macroeconomic role that different household groups play in human capital formation, sectoral growth and income distribution in Rwanda. Using a disaggregated SAM for Rwanda and, with the assistance of structural path analysis, the paper explores the macroeconomic...

This paper explores macroeconomic linkages among family planning, human capital and economic growth in Rwanda. Based on a disaggregated social accounting matrix (SAM), welfare effects of alternative exogenous injections are investigated, and the high and low-income pathways are identified by...

We study an economy in which the rate of change of population depends on population policy decisions. This requires population as well as capital as state variables. By showing the algebraic relationship between the shadow price of the population and the shadow price of the per capita capital...

With about five children born per woman and a population growth rate of 2.5 per cent per year, sub-Saharan Africa has been the world's fastest growing region over the last decade. Economists have often argued that high fertility rates are mainly driven by women's demand for children (and not by...

In this document, we consider the effects of a land reform on economic and demographic growth by a family-optimization model with sharecropping, endogenous fertility and status seeking. We show that tenant farming is the major obstacle to escaping the Malthusian trap with high fertility and low...

The demographic transition can affect the equilibrium real interest rate through three channels. An increase in longevity - or expectations thereof - puts downward pressure on the real interest rate, as agents build up their savings in anticipation of a longer retirement period. A reduction in...