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Population growth and human capital: a welfarist approach

  • Thomas Renstrom

    ()

    (University of Durham (UK))

  • Luca Spataro

    ()

    (Dipartimento di Economia e Management, University of Pisa (Italy))

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    In this paper we investigate the relationship between economic and population growth in an endogenous growth model driven by human capital accumulation à la Lucas (1988). Since we allow for endogenous population growth, we adopt the population criterion Relative Critical Level Utilitarianism (an extension of Critical Level Utilitarianism, Blackorby et al. 1995) which allows axiomatically founded welfare orderings under variable population. Under this extension the Critical Level Utility is dependent on parents’ wellbeing. In this scenario we investigate the equilibrium relation between economic growth and population growth as functions of the underlying parameters and we provide the conditions for the economic take-off to occur.

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    File URL: http://www.digef.uniroma1.it/sites/default/files/pubblicazioni/economia/research-papers/e-pfrp-n-3.pdf
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    Paper provided by Istituto di Economia e Finanza, DIGEF, Sapienza University of Rome in its series Public Finance Research Papers with number 3.

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    Length: 41 pages
    Date of creation: May 2014
    Date of revision:
    Handle: RePEc:gfe:pfrp00:0003
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    1. Alwyn Young, 1998. "Growth without Scale Effects," Journal of Political Economy, University of Chicago Press, vol. 106(1), pages 41-63, February.
    2. Alberto Bucci, 2007. "Population Growth in a Model of Economic Growth with Human Capital Accumulation and Horizontal R&D," UNIMI - Research Papers in Economics, Business, and Statistics unimi-1049, Universitá degli Studi di Milano.
    3. de la CROIX, David & PESTIEAU, Pierre & PONTHIERE, Grégory, . "How powerful is demography? The Serendipity Theorem revisited," CORE Discussion Papers RP -2420, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    4. 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.
    5. Jones, Charles I, 1995. "R&D-Based Models of Economic Growth," Journal of Political Economy, University of Chicago Press, vol. 103(4), pages 759-84, August.
    6. Spataro, Luca & Renström, Thomas I., 2012. "Optimal taxation, critical-level utilitarianism and economic growth," Journal of Public Economics, Elsevier, vol. 96(9-10), pages 727-738.
    7. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-37, October.
    8. PESTIEAU, Pierre & PONTHIERE, Grégory, 2011. "Optimal fertility along the lifecycle," CORE Discussion Papers 2011033, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    9. Eric W. Bond & Ping Wang & Chong K. Yip, 1993. "A general two-sector model of endogenous growth with human and physical capital: balanced growth and transitional dynamics," Research Paper 9324, Federal Reserve Bank of Dallas.
    10. Peretto, Pietro F, 1998. " Technological Change and Population Growth," Journal of Economic Growth, Springer, vol. 3(4), pages 283-311, December.
    11. BLACKORBY, Charles & BOSSERT, Walter & DONALDSON, David, 2002. "Critical-Level Population Principles and the Repugnant Conclusion," Cahiers de recherche 2002-15, Universite de Montreal, Departement de sciences economiques.
    12. Dinopoulos, Elias & Thompson, Peter, 1998. " Schumpeterian Growth without Scale Effects," Journal of Economic Growth, Springer, vol. 3(4), pages 313-35, December.
    13. Dalgaard, Carl-Johan & Kreiner, Claus Thustrup, 2001. " Is Declining Productivity Inevitable?," Journal of Economic Growth, Springer, vol. 6(3), pages 187-203, September.
    14. Segerstrom, Paul S, 1998. "Endogenous Growth without Scale Effects," American Economic Review, American Economic Association, vol. 88(5), pages 1290-1310, December.
    15. Connolly, Michelle & Peretto, Pietro F, 2003. " Industry and the Family: Two Engines of Growth," Journal of Economic Growth, Springer, vol. 8(1), pages 115-48, March.
    16. Ventura, Jaume, 1997. "Growth and Interdependence," The Quarterly Journal of Economics, MIT Press, vol. 112(1), pages 57-84, February.
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    18. Bucci, Alberto, 2013. "Returns to specialization, competition, population, and growth," Journal of Economic Dynamics and Control, Elsevier, vol. 37(10), pages 2023-2040.
    19. Thomas Renström & Luca Spataro, 2011. "The optimum growth rate for population under critical-level utilitarianism," Journal of Population Economics, Springer, vol. 24(3), pages 1181-1201, July.
    20. Charles I. Jones, 1999. "Growth: With or Without Scale Effects?," American Economic Review, American Economic Association, vol. 89(2), pages 139-144, May.
    21. Klaus Prettner & Alexia Prskawetz, 2010. "Demographic Change in Models of Endogenous Economic Growth. A Survey," Working Papers 1008, Vienna Institute of Demography (VID) of the Austrian Academy of Sciences in Vienna.
    22. Blackorby, Charles & Bossert, Walter & Donaldson, David, 1995. "Intertemporal Population Ethics: Critical-Level Utilitarian Principles," Econometrica, Econometric Society, vol. 63(6), pages 1303-20, November.
    23. Samuel S. Kortum, 1997. "Research, Patenting, and Technological Change," Econometrica, Econometric Society, vol. 65(6), pages 1389-1420, November.
    24. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
    25. Mino, Kazuo, 1996. "Analysis of a Two-Sector Model of Endogenous Growth with Capital Income Taxation," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 37(1), pages 227-51, February.
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