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-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 productivity. A land reform provides peasant families higher returns … decreases fertility and increases productivity in agriculture in the short and long runs. The European demographic history …
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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...
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This paper empirically examines the effect of population growth on real interest rates. Although this effect is well founded in macroeconomic theory, the corresponding empirical results have been rather tenuous. Demographic interest rate theories are typically based on long-term relationships...
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This article examines pollution and environmental mortality in an economy where fertility is endogenous and output is … decreasing fertility and the population size. Correspondingly, if the clean sector is more capital intensive, then the emission … tax decreases the wage and increases fertility. Although the proportion of the dirty sector in production falls, the …
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