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Demographic-economic equilibria when the age at motherhood is endogenous

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Author Info

  • d'Albis, Hippolyte
  • Augeraud-Véron, Emmanuelle
  • Schubert, Katheline

Abstract

Abstract In this article, we study the joint dynamics of the demography and the economy. We explore how economic conditions affect fertility choices, and in return how the population growth rate affects both financial and labor markets. Our main contribution is to consider a realistic demographic setup that allows characterizing the age at which individuals decide to give birth to their children. In such a framework, we aim at studying the existence of an equilibrium. We notably prove there exists a monetary steady state if the average age of consumers is greater than the average age of producers.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Mathematical Economics.

Volume (Year): 46 (2010)
Issue (Month): 6 (November)
Pages: 1211-1221

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Handle: RePEc:eee:mateco:v:46:y:2010:i:6:p:1211-1221

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Web page: http://www.elsevier.com/locate/jmateco

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Keywords: Demographic economics Fertility choices Monetary equilibrium;

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References

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  1. Omar Licandro & David de la Croix, 2008. "The Child is Father of the Man: Implications for the Demographic Transition," 2008 Meeting Papers 186, Society for Economic Dynamics.
  2. Michel, Philippe & Pestieau, P, 1993. "Population Growth and Optimality: When Does Serendipity Hold?," Journal of Population Economics, Springer, vol. 6(4), pages 353-62, November.
  3. Hippolyte D'Albis & Emmanuelle Augeraud-Veron, 2008. "Endogenous Retirement and Monetary Cycles," Mathematical Population Studies, Taylor & Francis Journals, vol. 15(4), pages 214-229.
  4. Hippolyte D'Albis, 2007. "Demographic structure and capital accumulation," Post-Print hal-00630200, HAL.
  5. Paulo Brito & Rui Dilao, 2006. "Equilibrium price dynamics in an overlapping-generations exchange economy," Working Papers Department of Economics 2006/27, ISEG - School of Economics and Management, Department of Economics, University of Lisbon.
  6. Heckman, James J & Walker, James R, 1990. "The Relationship between Wages and Income and the Timing and Spacing of Births: Evidence from Swedish Longitudinal Data," Econometrica, Econometric Society, vol. 58(6), pages 1411-41, November.
  7. Boucekkine, Raouf & de la Croix, David & Licandro, Omar, 2002. "Vintage Human Capital, Demographic Trends, and Endogenous Growth," Journal of Economic Theory, Elsevier, vol. 104(2), pages 340-375, June.
  8. Raouf, BOUCEKKINE & David de la Croix & Omar Lidandro, 2004. "Modelling vintage structures with DDEs : principles and applications," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 2004004, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
  9. Kalemli-Ozcan, Sebnem, 2003. "A stochastic model of mortality, fertility, and human capital investment," Journal of Development Economics, Elsevier, vol. 70(1), pages 103-118, February.
  10. Siv Gustafsson, 2001. "Optimal age at motherhood. Theoretical and empirical considerations on postponement of maternity in Europe," Journal of Population Economics, Springer, vol. 14(2), pages 225-247.
  11. Raouf, BOUCEKKINE & Rodolphe, DESBORDES & Hélène, LATZER, 2008. "How do epidemics induce behavioral changes ?," Discussion Papers (ECON - Département des Sciences Economiques) 2008025, Université catholique de Louvain, Département des Sciences Economiques.
  12. Arthur, W Brian & McNicoll, Geoffrey, 1978. "Samuelson, Population and Intergenerational Transfers," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 19(1), pages 241-46, February.
  13. Samuelson, Paul A, 1975. "The Optimum Growth Rate for Population," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 16(3), pages 531-38, October.
  14. Gary S. Becker, 1960. "An Economic Analysis of Fertility," NBER Chapters, in: Demographic and Economic Change in Developed Countries, pages 209-240 National Bureau of Economic Research, Inc.
  15. Paul A. Samuelson, 1958. "An Exact Consumption-Loan Model of Interest with or without the Social Contrivance of Money," Journal of Political Economy, University of Chicago Press, vol. 66, pages 467.
  16. Antoine Bommier & Ronald D. Lee, 2003. "Overlapping generations models with realistic demography," Journal of Population Economics, Springer, vol. 16(1), pages 135-160, 02.
  17. Ronald Lee, 1980. "Age Structure, Intergenerational Transfers and Economic Growth : an Overview," Revue Économique, Programme National Persée, vol. 31(6), pages 1129-1156.
  18. Deardorff, Alan V, 1976. "The Optimum Growth Rate for Population: Comment," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 17(2), pages 510-15, June.
  19. Hippolyte d’Albis & Emmanuelle Augeraud-Véron, 2007. "Balanced cycles in an OLG model with a continuum of finitely-lived individuals," Economic Theory, Springer, vol. 30(1), pages 181-186, January.
  20. David de la Croix & Omar Licandro, 2008. "The Child is Father of the Man: by Implications for the Demographic Transition," Working Papers 2008-04, FEDEA.
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  1. Visite guidée au coeur des travaux du Meilleur jeune économiste 2012 (1/2)
    by Matthieu Solignac in Regards croisés sur l'économie on 2012-05-28 19:26:09
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Cited by:
  1. repec:hal:wpaper:hal-00612613 is not listed on IDEAS
  2. Pierre Pestieau & Gregory Ponthiere, 2013. "Childbearing Age, Family Allowances, and Social Security," Southern Economic Journal, Southern Economic Association, vol. 80(2), pages 385-413, October.
  3. Pierre Pestieau & Gregory Ponthiere, 2014. "Optimal fertility along the life cycle," Economic Theory, Springer, vol. 55(1), pages 185-224, January.
  4. PESTIEAU, Pierre & PONTHIERE, Grégory, 2012. "Optimal lifecycle fertility in a Barro-Becker economy," CORE Discussion Papers 2012010, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  5. repec:hal:wpaper:hal-00612609 is not listed on IDEAS
  6. repec:hal:wpaper:halshs-00676500 is not listed on IDEAS

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