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Optimum Population Growth with CIES Preference in the Infinite- Horizon Ramsey Model

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  • Ralph Z. Wang

    (College of Economics, Zhejiang University)

Abstract

When the preference over intertemporal consumptions is of CIES type and human capital enters the production function in a secific way, we show that the optimum population growth rate is exactly the subjective discount rate in an infinite-horizon Ramsey Model.

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Bibliographic Info

Paper provided by EconWPA in its series Labor and Demography with number 0507007.

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Length: 7 pages
Date of creation: 13 Jul 2005
Date of revision:
Handle: RePEc:wpa:wuwpla:0507007

Note: Type of Document - pdf; pages: 7
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Web page: http://128.118.178.162

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Keywords: Population growth; CIES function; Ramsey Model;

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  1. Gary S. Becker & Kevin M. Murphy & Robert F. Tamura, 1990. "Human Capital, Fertility, and Economic Growth," NBER Working Papers 3414, National Bureau of Economic Research, Inc.
  2. Palivos, Theodore, 1995. "Endogenous fertility, multiple growth paths, and economic convergence," Journal of Economic Dynamics and Control, Elsevier, vol. 19(8), pages 1489-1510, November.
  3. Wang, P. & Yip, C.K. & Scotese, C.A., 1991. "Fertility Choice and Economic Growth: Theory and Evidence," Papers 6-91-3, Pennsylvania State - Department of Economics.
  4. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
  5. Becker, Gary S & Lewis, H Gregg, 1973. "On the Interaction between the Quantity and Quality of Children," Journal of Political Economy, University of Chicago Press, vol. 81(2), pages S279-88, Part II, .
  6. Tjalling C. Koopmans, 1963. "On the Concept of Optimal Economic Growth," Cowles Foundation Discussion Papers 163, Cowles Foundation for Research in Economics, Yale University.
  7. David Cass, 1964. "Optimum Economic Growth in an Aggregative Model of Capital Accumulation: A Turnpike Theorem," Cowles Foundation Discussion Papers 178, Cowles Foundation for Research in Economics, Yale University.
  8. Gary S. Becker & Robert J. Barro, 1986. "A Reformulation of the Economic Theory of Fertility," NBER Working Papers 1793, National Bureau of Economic Research, Inc.
  9. Barro, R.J. & Becker, G.S., 1988. "Fertility Choice In A Model Of Economic Growth," University of Chicago - Economics Research Center 88-8, Chicago - Economics Research Center.
  10. N. Gregory Mankiw & David Romer & David N. Weil, 1990. "A Contribution to the Empirics of Economic Growth," NBER Working Papers 3541, National Bureau of Economic Research, Inc.
  11. 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.
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