Age-structured optimal control in population economics
This paper brings both intertemporal and age-dependent features to a theory of population policy at the macro-level. A Lotkatype renewal model of population dynamics is combined with a Solow/Ramsey economy. By using a new maximum principle for distributed parameter control we derive meaningful qualitative results for the optimal migration path and the optimal saving rate.
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- W. Brian Arthur & Geoffrey McNicoll, 1977. "Optimal Time Paths with Age-Dependence: A Theory of Population Policy," Review of Economic Studies, Oxford University Press, vol. 44(1), pages 111-123.
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- Axel BÃ¶rsch-Supan, 2002. "International Comparison of Household Savings Behaviour: The German Savings Puzzle," MEA discussion paper series 02006, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.
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