Ongoing demographic change will lead to a relative scarcity of raw labor to the effect that output growth will be …

imperfect credit markets and high economic growth rates. In this paper, we analyze the role of parental altruism on economic … growth and dynamic efficiency, especially when credit markets for education loans are missing. We demonstrate conditions … under which missing or imperfect credit markets increase economic growth and do not hinder dynamic efficiency. We also show …

-run effects of capital markets integration, in equilibrium, on the optimal provision of education and growth. Third, we examine a …

to demographic ageing and per-capita growth to accelerate. If the retirement age were held constant, the growth rate in …-capita growth. The OLG model captures direct effects, working through adjustments in the savings rate, labor supply, and capital … deepening, and indirect effects, working through changes of taxes, government spending components and the retirement age in …

for consumption and the hours of time supplied to the labour market, they also choose their schooling level and retirement …