Technological Progress And Population Growth: Do We Have Too Few Children?
AbstractDo we have too few children? We intend to address this question. In developed countries, the fertility rate has declined since WWII. This may cause a slowdown in the growth of GDP in developed countries. However, important factors for the well-being of individuals are per capita variables, like per capita growth and per capita consumption. In turn, the rate of technological progress determines the growth rates of per capita variables. If the population size is increasing, the labour inputs for R&D activity increase, and thus speed up technological progress. As individuals do not take account of this positive effect when deciding the number of their own children, the number of children may become smaller than the socially optimal number of children. However, an increase in the number of children reduces the assets any one child owns: that is, there is a capital dilution effect. This works in the opposite direction. We examine this issue using an endogenous growth model where the head of a dynastic family decides the number of children.
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Bibliographic InfoArticle provided by Japanese Economic Association in its journal Japanese Economic Review.
Volume (Year): 61 (2010)
Issue (Month): 1 ()
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Other versions of this item:
- Koichi Futagami & Takeo Hori, 2009. "Technological Progress and Population Growth: Do we have too few children?," Discussion Papers in Economics and Business 09-21, Osaka University, Graduate School of Economics and Osaka School of International Public Policy (OSIPP).
- J1 - Labor and Demographic Economics - - Demographic Economics
- O30 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - General
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