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, emphasizing the role of land in the development process. Starting from a pre-industrialization state called the “Malthusian regime …”, land and labor are the main production factors. The size of population is limited by the quantity of land available for … effect”. If this effect is strong enough, the economy can reach an “ultimate growth regime”. In the different phases, land …
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This paper investigates the economic growth and social welfare implications of monetary policy in an endogenous growth model with endogenous fertility. We show that, in the money-in-the-utility-function framework, endogenous fertility governs the validity of money superneutrality, the...
Persistent link: https://www.econbiz.de/10010617293
We consider a unified framework that combines two strands of previous literature on overlapping generations growth models of endogenous fertility and savings: one strand incorporating two-period lived agents with life-cycle utility functions and the other strand incorporating one period lived...
Persistent link: https://www.econbiz.de/10010781195
An endogenous growth model with human capital formation, pollution caused by production of consumption goods, and endogenous fertility decisions made by altruistic agents with infinite horizons is presented. Consequences for optimal policy of modelling fertility as an explicit decision variable...
Persistent link: https://www.econbiz.de/10005678618
This paper studies the equilibrium dynamics and indeterminacy of equilibria in an endogenous growth model with endogenous fertility choice. We characterize the conditions that give rise to an unique equilibrium as well as multiple equilibria. Whenever there exists a unique equilibrium, it will...
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