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Fertility and money in an OLG model

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  • Luciano Fanti
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    Abstract

    We extend the two-period-lived-agent overlapping generations model with endogenous fertility and demand for money to understand whether and how the introduction of a money sector modifies what we have so far learned about fertility behaviours. It is shown that the existence of money may tend to exacerbate existing problems of either under-population or over-population.

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    File URL: http://www.dse.ec.unipi.it/fileadmin/pdf/2012-145.pdf
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    Bibliographic Info

    Paper provided by Dipartimento di Economia e Management (DEM), University of Pisa, Pisa, Italy in its series Discussion Papers with number 2012/145.

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    Date of creation: 01 Sep 2012
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    Handle: RePEc:pie:dsedps:2012/145

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    Keywords: Endogenous preferences; Fertility; OLG model.;

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    References

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    1. CRETTEZ, Bertrand & MICHEL, Philippe & WIGNIOLLE, Bertrand, 1998. "Cash-in-advance constraints in the diamond overlapping generations model: neutrality and optimality of monetary policies," CORE Discussion Papers 1998005, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    2. Cigno, Alessandro, 1995. "Public pensions with endogenous fertility: Comment on Nishimura and Zhang," Journal of Public Economics, Elsevier, vol. 57(1), pages 169-173, May.
    3. Drazen, Allan, 1981. "Inflation and capital accumulation under a finite horizon," Journal of Monetary Economics, Elsevier, vol. 8(2), pages 247-260.
    4. Andrew B. Abel, . "Optimal Monetary Growth," Rodney L. White Center for Financial Research Working Papers 2-87, Wharton School Rodney L. White Center for Financial Research.
    5. Nishimura, Kazuo & Zhang, Junsen, 1995. "Sustainable Plans of Social Security with Endogenous Fertility," Oxford Economic Papers, Oxford University Press, vol. 47(1), pages 182-94, January.
    6. Luca Gori & Luciano Fanti, 2007. "Labour income taxation, child rearing policies and fertility," Economics Bulletin, AccessEcon, vol. 10(20), pages 1-10.
    7. Zhang, Junxi, 2000. "Inflation and Growth: Pecuniary Transactions Costs and Qualitative Equivalence," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 32(1), pages 1-12, February.
    8. van Groezen, Bas & Leers, Theo & Meijdam, Lex, 2003. "Social security and endogenous fertility: pensions and child allowances as siamese twins," Journal of Public Economics, Elsevier, vol. 87(2), pages 233-251, February.
    9. Mino, Kazuo & Shibata, Akihisa, 1995. "Monetary Policy, Overlapping Generations, and Patterns of Growth," Economica, London School of Economics and Political Science, vol. 62(246), pages 179-94, May.
    10. Robert Fenge & Volker Meier, 2005. "Pensions and fertility incentives," Canadian Journal of Economics, Canadian Economics Association, vol. 38(1), pages 28-48, February.
    11. Yip, C.K. & Wang, P., 1989. "Alternative Approaches To Money And Growth," Papers 8-89-4, Pennsylvania State - Department of Economics.
    12. Luciano Fanti & Luca Gori, 2010. "Public Education, Fertility Incentives, Neoclassical Economic Growth And Welfare," Bulletin of Economic Research, Wiley Blackwell, vol. 62(1), pages 59-77, 01.
    13. Akira Yakita, 2006. "Life expectancy, money, and growth," Journal of Population Economics, Springer, vol. 19(3), pages 579-592, July.
    14. Yakita, Akira, 1989. "The optimal rate of inflation and taxation," Journal of Public Economics, Elsevier, vol. 38(3), pages 369-385, April.
    15. van der Ploeg, Frederick & Alogoskoufis, George S, 1994. "Money and Endogenous Growth," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 26(4), pages 771-91, November.
    16. Zhang, Jie, 1995. "Social security and endogenous growth," Journal of Public Economics, Elsevier, vol. 58(2), pages 185-213, October.
    17. Fanti, Luciano & Gori, Luca, 2009. "Population and neoclassical economic growth: A new child policy perspective," Economics Letters, Elsevier, vol. 104(1), pages 27-30, July.
    18. Luciano Fanti & Luca Gori, 2012. "Fertility and PAYG pensions in the overlapping generations model," Journal of Population Economics, Springer, vol. 25(3), pages 955-961, July.
    19. repec:ebl:ecbull:v:10:y:2007:i:20:p:1-10 is not listed on IDEAS
    20. Eckstein, Zvi & Wolpin, Kenneth I., 1985. "Endogenous fertility and optimal population size," Journal of Public Economics, Elsevier, vol. 27(1), pages 93-106, June.
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