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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))

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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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. 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.
  2. 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.
  3. Charles I. Jones, 1999. "Growth: With or Without Scale Effects?," American Economic Review, American Economic Association, vol. 89(2), pages 139-144, May.
  4. Barro, Robert J & Becker, Gary S, 1989. "Fertility Choice in a Model of Economic Growth," Econometrica, Econometric Society, vol. 57(2), pages 481-501, March.
  5. Luca Spataro & Thomas I. Renstroem, 2010. "Optimal taxation, critical-level utilitarianism and economic growth," Working Papers 2010_06, Durham University Business School.
  6. Paul M Romer, 1999. "Increasing Returns and Long-Run Growth," Levine's Working Paper Archive 2232, David K. Levine.
  7. Blackorby, Charles & Bossert, Walter & Donaldson, David, 1995. "Intertemporal Population Ethics: Critical-Level Utilitarian Principles," Econometrica, Econometric Society, vol. 63(6), pages 1303-20, November.
  8. Bond, Eric W. & Wang, Ping & Yip, Chong K., 1996. "A General Two-Sector Model of Endogenous Growth with Human and Physical Capital: Balanced Growth and Transitional Dynamics," Journal of Economic Theory, Elsevier, vol. 68(1), pages 149-173, January.
  9. 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.
  10. Dalgaard, Carl-Johan & Kreiner, Claus Thustrup, 2001. " Is Declining Productivity Inevitable?," Journal of Economic Growth, Springer, vol. 6(3), pages 187-203, September.
  11. DE LA CROIX, David & PESTIEAU, Pierre & PONTHIERE, Gregory, 2009. "How powerful is demography ? The Serendipity Theorem revisited," CORE Discussion Papers 2009076, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  12. Pierre Pestieau & Gregory Ponthiere, 2014. "Optimal fertility along the life cycle," Economic Theory, Springer, vol. 55(1), pages 185-224, January.
  13. Segerstrom, Paul S, 1998. "Endogenous Growth without Scale Effects," American Economic Review, American Economic Association, vol. 88(5), pages 1290-1310, December.
  14. Klaus Prettner, 2011. "Population aging and endogenous economic growth," PGDA Working Papers 7211, Program on the Global Demography of Aging.
  15. 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.
  16. 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.
  17. Bucci, Alberto, 2013. "Returns to specialization, competition, population, and growth," Journal of Economic Dynamics and Control, Elsevier, vol. 37(10), pages 2023-2040.
  18. Charles BLACKORBY & Walter BOSSERT & David DONALDSON, 2002. "Critical-Level Population Principles And The Repugnant Conclusion," Cahiers de recherche 15-2002, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
  19. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
  20. Dinopoulos, Elias & Thompson, Peter, 1998. " Schumpeterian Growth without Scale Effects," Journal of Economic Growth, Springer, vol. 3(4), pages 313-35, December.
  21. Samuel S. Kortum, 1997. "Research, Patenting, and Technological Change," Econometrica, Econometric Society, vol. 65(6), pages 1389-1420, November.
  22. Peretto, Pietro F., 1996. "Technological Change and Population Growth," Working Papers 96-28, Duke University, Department of Economics.
  23. 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.
  24. Ventura, Jaume, 1997. "Growth and Interdependence," The Quarterly Journal of Economics, MIT Press, vol. 112(1), pages 57-84, February.
  25. Alwyn Young, 1998. "Growth without Scale Effects," Journal of Political Economy, University of Chicago Press, vol. 106(1), pages 41-63, February.
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