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Population Growth and Technological Change: a Pure Welfarist Approach

Author

Listed:
  • Thomas Renström

    (Durham University, Durham University Business School)

  • Luca Spataro

    (UDipartimento di Economia e Management Università degli studi di Pisa)

Abstract

In this paper we characterize the optimal steady state and dynamics of an intertemporal economy in presence of endogenous fertility. For doing this we propose a new version of Critical Level Utilitarianism (CLU) a là Blackorby et al (1995), that we call Relative CLU, which is shown to be axiomatically founded and allows for time-varying critical level. In particular, we show that under such social preferences both the short and the long run effects of technological shocks on the optimal population growth are non-trivial, depending on the characteristics of both preferences and production technology. However, we show that the negative relationship between fertility and technological development emerges under a broad class of preferences, which is typically found in empirical research.

Suggested Citation

  • Thomas Renström & Luca Spataro, 2013. "Population Growth and Technological Change: a Pure Welfarist Approach," CEMAP Working Papers 2013_03, Durham University Business School.
    • Handle: RePEc:dur:cegapw:2013_03
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    References listed on IDEAS

    as
    1. Arrhenius, Gustaf, 2000. "An Impossibility Theorem for Welfarist Axiologies," Economics and Philosophy, Cambridge University Press, vol. 16(2), pages 247-266, October.
    2. Spataro Luca & Fanti Luciano, 2011. "The Optimal Level of Debt in an OLG Model with Endogenous Fertility," German Economic Review, De Gruyter, vol. 12(3), pages 351-369, August.
    3. 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 531-538, October.
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    Cited by:

    1. Luca Spataro & Luciano Fanti, 2013. "From Malthusian to Modern fertility: When intergenerational transfers matter," Discussion Papers 2013/163, Dipartimento di Economia e Management (DEM), University of Pisa, Pisa, Italy.
    2. Thomas I. Renström & Luca Spataro, 2015. "Population Growth and Human Capital: A Welfarist Approach," Manchester School, University of Manchester, vol. 83, pages 110-141, December.

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