La croissance démographique dans les modèles à générations imbriquées
In this paper, we develop a continuous time overlapping generations model to analyze the relationship between demographic growth rate and the interest rate. We show there exists a finite demographic growth rate that minimizes the interest rate. This implies that the relation between the two variables is not monotonic. We provide a theoretical characterization of the growth rate that minimizes the interest rate and explain why standard overlapping generations models proposed by Diamond  and Blanchard  systematically exhibit an increasing relationship between the demographic growth rate and the interest rate.
|Date of creation:||2003|
|Publication status:||Published in Revue Economique, Presses de Sciences Po, 2003, 54 (3), pp.573-582|
|Note:||View the original document on HAL open archive server: https://hal.archives-ouvertes.fr/hal-00630245|
|Contact details of provider:|| Web page: https://hal.archives-ouvertes.fr/|
References listed on IDEAS
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- Andrew B. Abel, 2003.
"The Effects of a Baby Boom on Stock Prices and Capital Accumulation in the Presence of Social Security,"
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- Antoine Bommier & Ronald D. Lee, 2003. "Overlapping generations models with realistic demography," Journal of Population Economics, Springer;European Society for Population Economics, vol. 16(1), pages 135-160, 02.
- Blanchard, Olivier J, 1985. "Debt, Deficits, and Finite Horizons," Journal of Political Economy, University of Chicago Press, vol. 93(2), pages 223-247, April.
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- Burke, Jonathan L., 1996. "Equilibrium for Overlapping Generations in Continuous Time," Journal of Economic Theory, Elsevier, vol. 70(2), pages 364-390, August.
- Weil, Philippe, 1989. "Overlapping families of infinitely-lived agents," Journal of Public Economics, Elsevier, vol. 38(2), pages 183-198, March. Full references (including those not matched with items on IDEAS)
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