On Efficient Child Making
This paper is devoted to the study of the Pareto-efficiency of the competitive equilibrium for an overlapping generations economy with endogenous fertility. Pareto-efficiency needs a reformulation when fertility is endogenous. Then it is proved that a competitive equilibrium that converges in over-accumulation is non-Pareto-efficient. However, we provide an example in which a competitive equilibrium that converges in under-accumulation is non-Pareto-efficient. Finally, we give a general condition that ensures the Pareto-efficiency of the competitive equilibrium.
(This abstract was borrowed from another version of this item.)
Volume (Year): 31 (2007)
Issue (Month): 2 (May)
|Contact details of provider:|| Web page: http://link.springer.de/link/service/journals/00199/index.htm|
|Order Information:||Web: http://link.springer.de/orders.htm|
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- repec:cup:cbooks:9780521806428 is not listed on IDEAS
- Mikhail Golosov & Larry E. Jones & Michele Tertilt, 2004.
"Efficiency with Endogenous Population Growth,"
NBER Working Papers
10231, National Bureau of Economic Research, Inc.
- Mikhail Golosov & Larry E. Jones, 2004. "Efficiency with Endogenous Population Growth," 2004 Meeting Papers 8, Society for Economic Dynamics.
- Mikhail Golosov & Larry E. Jones & Michele Tertilt, 2004. "Efficiency with endogenous population growth," Working Papers 630, Federal Reserve Bank of Minneapolis.
- Mikhail Golosov & Larry E. Jones & Michèle Tertilt, 2006. "Efficiency with Endogenous Population Growth," Discussion Papers 05-012, Stanford Institute for Economic Policy Research.
- Mikhail Golosov & Larry E Jones & Michèle Tertilt, 2003. "Effciency with Endogenous Population Growth," Levine's Working Paper Archive 666156000000000310, David K. Levine.
- Eckstein, Zvi & Wolpin, Kenneth I., 1985. "Endogenous fertility and optimal population size," Journal of Public Economics, Elsevier, vol. 27(1), pages 93-106, June.
- repec:cup:cbooks:9780521001151 is not listed on IDEAS
- Willis, Robert J, 1973. "A New Approach to the Economic Theory of Fertility Behavior," Journal of Political Economy, University of Chicago Press, vol. 81(2), pages S14-64, Part II, .
- Nishimura, K. & Zhang, J., 1990.
"Pay-As-You-Go Public Pensions With Endogenous Fertility,"
202, Australian National University - Department of Economics.
- Nishimura, Kazuo & Zhang, Junsen, 1992. "Pay-as-you-go public pensions with endogenous fertility," Journal of Public Economics, Elsevier, vol. 48(2), pages 239-258, July.
- Michel, Philippe, 1990. "Some Clarifications on the Transversality Condition," Econometrica, Econometric Society, vol. 58(3), pages 705-23, May.
- George B. Roberts, Chairman, Universities-National Bureau Committee for Economic Research, 1960. "Demographic and Economic Change in Developed Countries," NBER Books, National Bureau of Economic Research, Inc, number univ60-2, August.
- Raut, L K & Srinivasan, T N, 1994. "Dynamics of Endogenous Growth," Economic Theory, Springer, vol. 4(5), pages 777-90, August.
- repec:cup:cbooks:9780521017039 is not listed on IDEAS
- Rupa Chakrabarti, 1999. "Endogenous fertility and growth in a model with old age support," Economic Theory, Springer, vol. 13(2), pages 393-416.
When requesting a correction, please mention this item's handle: RePEc:spr:joecth:v:31:y:2007:i:2:p:307-326. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Guenther Eichhorn)or (Christopher F Baum)
If references are entirely missing, you can add them using this form.