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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 I - 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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  1. 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, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 16(3), pages 531-38, October.
  2. Raouf Boucekkine & Rodolphe Desbordes & Hélène Latzer, 2007. "How do epidemics induce behavioral changes?," Working Papers, Business School - Economics, University of Glasgow 2007_25, Business School - Economics, University of Glasgow.
  3. Boucekkine, Raouf & de la Croix, David & Licandro, Omar, 2002. "Vintage Human Capital, Demographic Trends, and Endogenous Growth," Journal of Economic Theory, Elsevier, Elsevier, vol. 104(2), pages 340-375, June.
  4. Paulo Brito & Rui Dilao, 2006. "Equilibrium price dynamics in an overlapping-generations exchange economy," Working Papers Department of Economics, ISEG - School of Economics and Management, Department of Economics, University of Lisbon 2006/27, ISEG - School of Economics and Management, Department of Economics, University of Lisbon.
  5. 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, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 19(1), pages 241-46, February.
  6. David de la Croix & Omar Licandro, 2013. "The Child is Father Of the Man: Implications for the Demographic Transition," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 123(567), pages 236-261, 03.
  7. Kalemli-Ozcan, Sebnem, 2003. "A stochastic model of mortality, fertility, and human capital investment," Journal of Development Economics, Elsevier, Elsevier, vol. 70(1), pages 103-118, February.
  8. 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.
  9. Raouf Boucekkine & David De La Croix & Omar Licandro, 2004. "MODELLING VINTAGE STRUCTURES WITH DDEs: PRINCIPLES AND APPLICATIONS," Mathematical Population Studies, Taylor & Francis Journals, vol. 11(3-4), pages 151-179.
  10. Antoine Bommier & Ronald D. Lee, 2003. "Overlapping generations models with realistic demography," Journal of Population Economics, Springer, Springer, vol. 16(1), pages 135-160, 02.
  11. Hippolyte D'Albis, 2007. "Demographic structure and capital accumulation," Post-Print hal-00630200, HAL.
  12. Siv Gustafsson, 2001. "Optimal age at motherhood. Theoretical and empirical considerations on postponement of maternity in Europe," Journal of Population Economics, Springer, Springer, vol. 14(2), pages 225-247.
  13. Ronald Lee, 1980. "Age Structure, Intergenerational Transfers and Economic Growth : an Overview," Revue Économique, Programme National Persée, Programme National Persée, vol. 31(6), pages 1129-1156.
  14. 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, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 17(2), pages 510-15, June.
  15. 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, Econometric Society, vol. 58(6), pages 1411-41, November.
  16. Michel, Philippe & Pestieau, P, 1993. "Population Growth and Optimality: When Does Serendipity Hold?," Journal of Population Economics, Springer, Springer, vol. 6(4), pages 353-62, November.
  17. Raouf Boucekkine & David de la Croix & Omar Licandro, . "Modelling vintage structures with DDEs: Principles and applications," Working Papers 2004-07, FEDEA.
  18. Hippolyte D'Albis & Emmanuelle Augeraud-Veron, 2008. "Endogenous Retirement and Monetary Cycles," Mathematical Population Studies, Taylor & Francis Journals, vol. 15(4), pages 214-229.
  19. 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, University of Chicago Press, vol. 66, pages 467.
  20. Raouf Boucekkine & David de la Croix & Omar Licandro, . "vintage human capital, demographic trends and endogenous growth," Working Papers 2000-02, FEDEA.
  21. 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.
  22. 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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Blog mentions

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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. Pierre Pestieau & Gregory Ponthiere, 2014. "Optimal fertility along the life cycle," Economic Theory, Springer, Springer, vol. 55(1), pages 185-224, January.
  2. PESTIEAU, Pierre & PONTHIERE, Grégory, 2011. "Childbearing age, family allowances and social security," CORE Discussion Papers, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) 2011059, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  3. PESTIEAU, Pierre & PONTHIERE, Grégory, 2012. "Optimal lifecycle fertility in a Barro-Becker economy," CORE Discussion Papers, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) 2012010, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).

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