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Demographic-economic equilibria when the age at motherhood is endogenous

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Author Info

  • Hippolyte D'Albis

    (TSE - Toulouse School of Economics - Toulouse School of Economics, LERNA - Economie des Ressources Naturelles - Institut national de la recherche agronomique (INRA) : UR1081 - CEA : DPG - Université des Sciences Sociales - Toulouse I)

  • Emmanuelle Augeraud-Véron

    (MIA - Mathématiques, Image et Applications - Université de La Rochelle : EA3165)

  • Katheline Schubert

    ()
    (CES - Centre d'économie de la Sorbonne - CNRS : UMR8174 - Université Paris 1 - Panthéon-Sorbonne, EEP-PSE - Ecole d'Économie de Paris - Paris School of Economics - Ecole d'Économie de Paris)

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

Paper provided by HAL in its series Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) with number halshs-00547274.

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Date of creation: Nov 2010
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Publication status: Published, Journal of Mathematical Economics, 2010, 46, 6, 1211-1221
Handle: RePEc:hal:cesptp:halshs-00547274

Note: View the original document on HAL open archive server: http://halshs.archives-ouvertes.fr/halshs-00547274
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Keywords: Demographic economics; fertility choices; monetary equilibrium;

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References

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  1. DE LA CROIX, David & LICANDRO, Omar, 2007. "‘The child is father of the man’: implications for the demographic transition," CORE Discussion Papers 2007072, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  2. 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.
  3. Antoine Bommier & Ronald D. Lee, 2003. "Overlapping generations models with realistic demography," Journal of Population Economics, Springer, vol. 16(1), pages 135-160, 02.
  4. BOUCEKKINE, Raouf & DESBORDES, Rodolphe & LATZER, Hélène, 2008. "How do epidemics induce behavioral changes?," CORE Discussion Papers 2008042, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  5. Hippolyte D'Albis & Emmanuelle Augeraud-Veron, 2008. "Endogenous Retirement and Monetary Cycles," Mathematical Population Studies, Taylor & Francis Journals, vol. 15(4), pages 214-229.
  6. 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.
  7. 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).
  8. 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.
  9. MICHEL, Philippe & PESTIEAU, Pierre, . "Population growth and optimality. When does serendipity hold?," CORE Discussion Papers RP -1072, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  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. Hippolyte D'Albis & Emmanuelle Augeraud-Véron, 2007. "Balanced cycles in an OLG model with a continuum of finitely-lived individuals," Post-Print hal-00630229, HAL.
  12. Hippolyte D'Albis, 2007. "Demographic structure and capital accumulation," Post-Print hal-00630200, HAL.
  13. 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.
  14. Boucekkine, Raouf & de la Croix, David & Licandro, Omar, 2000. "Vintage Human Capital, Demographic Trends and Endogenous Growth," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 2000007, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
  15. Ronald Lee, 1980. "Age Structure, Intergenerational Transfers and Economic Growth : an Overview," Revue Économique, Programme National Persée, vol. 31(6), pages 1129-1156.
  16. 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.
  17. 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.
  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. 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.
  20. 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.
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Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  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. Pierre Pestieau & Grégory Ponthière, 2011. "Optimal Fertility along the Lifecycle," Working Papers hal-00612609, HAL.
  2. Pierre Pestieau & Grégory Ponthière, 2011. "Optimal Fertility along the Lifecycle," PSE Working Papers hal-00612609, HAL.
  3. Pierre Pestieau & Grégory Ponthière, 2011. "Childbearing Age, Family Allowances and Social Security," PSE Working Papers hal-00612613, HAL.
  4. Pierre Pestieau & Grégory Ponthière, 2011. "Childbearing Age, Family Allowances and Social Security," Working Papers hal-00612613, HAL.
  5. Pierre Pestieau & Grégory Ponthière, 2012. "Optimal Lifecycle Fertility in a Barro Becker Economy," Working Papers halshs-00676500, HAL.
  6. 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).

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