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Fertility, Heterogeneity and the Golden Rule

Ponthiere, Gregory - 2022

Phelpsís (1961) Golden Rule states an unambiguous relationship between optimal capital intensity and fertility: a rise … in fertility decreases the optimal capital intensity, because a higher fertility increases the investment required to … having distinct fertility behaviors. We derive the optimal accumulation rule in that framework, and we show that, unlike what …

Persistent link: https://www.econbiz.de/10013365108

Drivers of real interest rates in a two-country, general-equilibrium, OLG model

Christensen, Frederik Bjørn; Pedersen, Jesper - 2023

most cited drivers; decreasing fertility, decreasing mortality, and a slowdown of technological growth. We do this through … global real interest rate. The model predicts a 2.25 percentage point decrease from 1950 until today with falling mortality … generating most of the decline. We calibrate the second country on Danish data and show how differences in mortality can help …

Persistent link: https://www.econbiz.de/10014231838

Life expectancy, income and long-term care : the Preston Curve reexamined

Ponthiere, Gregory; Thibault, Emmanuel - 2023

The Preston Curve - the increasing relation between income per capita and life expectancy - cannot be observed in countries where old-age dependency is widespread (that is, where long-term care (LTC) spending per capita is high). The absence of the Preston Curve in countries with high old-age...

Persistent link: https://www.econbiz.de/10014429577

Longevity and Pay-as-You-Go Pensions

Pestieau, Pierre; Ponthiere, Gregory; Sato, Motohiro - 2008

This paper aims at investigating whether or not a utilitarian social planner should subsidize longevity-enhancing expenditures in an economy with a PAYG pension system. For that purpose, a simple two-period OLG model is developed, in which the length of the second period of life can be raised by...

Persistent link: https://www.econbiz.de/10014056260