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 InfoPaper provided by Tilburg University in its series Open Access publications from Tilburg University with number urn:nbn:nl:ui:12-73873.
Date of creation: 1997
Date of revision:
Publication status: Published in Journal of Population Economics (1997) v.10, p.317-334
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Web page: http://www.tilburguniversity.edu/
Other versions of this item:
- Erik Canton & Lex Meijdam, 1997. "Altruism and the macroeconomic effects of demographic changes," Journal of Population Economics, Springer, vol. 10(3), pages 317-334.
- 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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- 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.
- Boucekkine, R. & Martínez, B. & Ruiz-Tamarit, J.R., 2013.
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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).
- 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.
- 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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