On Efficient Child Making
This paper is devoted to the study of the Pareto-efficiency of the competitive equilibrium for an overlapping generations economy with endogenous fertility. Pareto-efficiency needs a reformulation when fertility is endogenous. Then it is proved that a competitive equilibrium that converges in over-accumulation is non-Pareto-efficient. However, we provide an example in which a competitive equilibrium that converges in under-accumulation is non-Pareto-efficient. Finally, we give a general condition that ensures the Pareto-efficiency of the competitive equilibrium.
|Date of creation:||May 2007|
|Publication status:||Published in Economic Theory, Springer Verlag, 2007, 31 (2), pp.307-326. <10.1007/s00199-006-0099-1>|
|Note:||View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-00185259|
|Contact details of provider:|| Web page: https://hal.archives-ouvertes.fr/|
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- Mikhail Golosov & Larry E. Jones & Michèle Tertilt, 2007.
"Efficiency with Endogenous Population Growth,"
Econometric Society, vol. 75(4), pages 1039-1071, 07.
- Mikhail Golosov & Larry E Jones & Michèle Tertilt, 2003. "Effciency with Endogenous Population Growth," Levine's Working Paper Archive 666156000000000310, David K. Levine.
- Mikhail Golosov & Larry E. Jones & Michele Tertilt, 2004. "Efficiency with endogenous population growth," Working Papers 630, Federal Reserve Bank of Minneapolis.
- Mikhail Golosov & Larry E. Jones & Michèle Tertilt, 2006. "Efficiency with Endogenous Population Growth," Discussion Papers 05-012, Stanford Institute for Economic Policy Research.
- Mikhail Golosov & Larry E. Jones, 2004. "Efficiency with Endogenous Population Growth," 2004 Meeting Papers 8, Society for Economic Dynamics.
- Mikhail Golosov & Larry E. Jones & Michele Tertilt, 2004. "Efficiency with Endogenous Population Growth," NBER Working Papers 10231, National Bureau of Economic Research, Inc.
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- George B. Roberts, Chairman, Universities-National Bureau Committee for Economic Research, 1960. "Demographic and Economic Change in Developed Countries," NBER Books, National Bureau of Economic Research, Inc, number univ60-2, April.
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