Poverty Trap and Endogenous Population
AbstractIn this paper, we develop a growth model in which human being is a production factor which can be combined with a fixed factor, say land, to produce a homogeneous commodity. Saving, so to speak, can only be made through having children, the number of which is an endogenous decision to the household. In this context, we show that the economy may run into a poverty trap with a subsistence level per capita consumption. However, we also demonstrate that the economy can escape from this unappealing long run situation through a suitable technological shift or an appropriate child- rearing tax. For such an escape, the technological shift must be non-neutral in the sense that it modifies the ratio of factor's marginal productivity.
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Bibliographic InfoPaper provided by Université Laval - Département d'économique in its series Cahiers de recherche with number 9916.
Date of creation: 1999
Date of revision:
Poverty trap; Endogenous population; Endogenous growth;
Other versions of this item:
- J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts
- O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2002-04-15 (All new papers)
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