Altruism and the macroeconomic effects of demographic changes
AbstractIn this paper we show that the macroeconomic effects of demographic changes strongly depend on the degree of altruism and on the specification of the intertemporal utility function. We allow for agents either to be altruistic in the sense of Barro (1974) or non-altruistic. In the latter case, generations are heterogeneous like in the "unloved children" model of Weil (1989). In the former case, where the model is a standard Ramsey model with identical agents, we distinguish a Millian and a Benthamite intertemporal utility function. For each of these models, we study the effects of an anticipated and unanticipated permanent decline in population growth as well as the consequences of a baby-boom/baby-bust scenario.
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Bibliographic InfoArticle provided by Springer in its journal Journal of Population Economics.
Volume (Year): 10 (1997)
Issue (Month): 3 ()
Note: Received April 17, 1996/Accepted December 10, 1996
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Web page: http://link.springer.de/link/service/journals/00148/index.htm
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Other versions of this item:
- Canton, E.J.F. & Meijdam, A.C., 1997. "Altruism and the macroeconomic effects of demographic changes," Open Access publications from Tilburg University urn:nbn:nl:ui:12-73873, Tilburg University.
- D60 - Microeconomics - - Welfare Economics - - - General
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- J10 - Labor and Demographic Economics - - Demographic Economics - - - General
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- Raouf BOUCEKKINE & B. MARTINEZ & J. R. RUIZ-TAMARIT, 2011.
"Growth vs. level effect of population change on economic development: An inspection into human-capital-related mechanisms,"
Discussion Papers (IRES - Institut de Recherches Economiques et Sociales)
2011039, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
- Boucekkine, R. & Martínez, B. & Ruiz-Tamarit, J.R., 2013. "Growth vs. level effect of population change on economic development: An inspection into human-capital-related mechanisms," Journal of Mathematical Economics, Elsevier, vol. 49(4), pages 312-334.
- Raouf Boucekkine & Blanca Martínez & Ramon Ruiz-Tamarit, 2011. "Growth vs level effect of population change on economic development: An inspection into human-capital-related mechanisms," Working Papers halshs-00632888, HAL.
- Casper van Ewijk & Erik Canton & Paul Tang, 2004. "Ageing and international capital flows," CPB Document 43, CPB Netherlands Bureau for Economic Policy Analysis.
- Kuhn, Michael & Wrzaczek, Stefan & Oeppen, Jim, 2010. "Recognizing progeny in the value of life," Economics Letters, Elsevier, vol. 107(1), pages 17-21, April.
- Stiller, Silvia, 2000. "Welfare effects of demographic changes in a Ramsey growth model," HWWA Discussion Papers 107, Hamburg Institute of International Economics (HWWA).
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