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Altruism and the macroeconomic effects of demographic changes

Author

Listed:
  • Erik Canton

    () (Center for Economic Research and Department of Economics, Tilburg University, P.O. Box 90153, 5000 LE Tilburg, The Netherlands)

  • Lex Meijdam

    () (Center for Economic Research and Department of Economics, Tilburg University, P.O. Box 90153, 5000 LE Tilburg, The Netherlands)

Abstract

In 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.

Suggested Citation

  • Erik Canton & Lex Meijdam, 1997. "Altruism and the macroeconomic effects of demographic changes," Journal of Population Economics, Springer;European Society for Population Economics, vol. 10(3), pages 317-334.
  • Handle: RePEc:spr:jopoec:v:10:y:1997:i:3:p:317-334
    Note: Received April 17, 1996/Accepted December 10, 1996
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    Citations

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    Cited by:

    1. Stiller, Silvia, 2000. "Welfare effects of demographic changes in a Ramsey growth model," HWWA Discussion Papers 107, Hamburg Institute of International Economics (HWWA).
    2. Gerlagh, Reyer & Jaimes, Richard & Motavasseli, Ali, 2017. "Global demographic change and climate policies," Discussion Paper 2017-035, Tilburg University, Center for Economic Research.
    3. Kuhn, Michael & Wrzaczek, Stefan & Oeppen, Jim, 2010. "Recognizing progeny in the value of life," Economics Letters, Elsevier, vol. 107(1), pages 17-21, April.
    4. Raouf Boucekkine & Blanca Martínez & José Ramón Ruiz-Tamarit, 2017. "Optimal Population Growth as an Endogenous Discounting Problem: The Ramsey Case," AMSE Working Papers 1731, Aix-Marseille School of Economics, Marseille, France.
    5. Boucekkine, R. & Martínez, B. & Ruiz-Tamarit, J.R., 2013. "Growth vs. level effect of population change on economic development: An inspection into human-capital-related mechanisms," Journal of Mathematical Economics, Elsevier, vol. 49(4), pages 312-334.
    6. Casper van Ewijk & Erik Canton & Paul Tang, 2004. "Ageing and international capital flows," CPB Document 43, CPB Netherlands Bureau for Economic Policy Analysis.
    7. Dafeng Xu, 2014. "Rural-Urban Migration with Behavioral Preferences," ERSA conference papers ersa14p536, European Regional Science Association.

    More about this item

    Keywords

    Demographic changes · altruistic and non-altruistic agents;

    JEL classification:

    • 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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