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Revisiting the optimal population size problem under endogenous growth: minimal utility level and finite lives

  • Raouf Boucekkine

    ()

    (GREQAM - Groupement de Recherche en Économie Quantitative d'Aix-Marseille - Université de la Méditerranée - Aix-Marseille II - Université Paul Cézanne - Aix-Marseille III - Ecole des Hautes Etudes en Sciences Sociales (EHESS) - CNRS : UMR6579)

  • Giorgio Fabbri

    ()

    (Dipartimento Matematica e statistica - Université de Naples)

  • Fausto Gozzi

    ()

    (Dipartimento di Scienze Economiche e Aziendali - Libera Università INTERNAZIONALE DEGLI STUDI SOCIALI G. CARLI)

In this paper, we devise a social criterion in the spirit of the critical utility level of Blackorby-Donaldson (1984) to study an optimal population size problem in an endogenously growing economy populated by workers living a fixed amount of time and without capital accumulation. Population growth is endogenous. The problem is analytically solved, yielding closed-form solutions to optimal demographic and economic dynamics. It is shown that provided the economy is not driven to optimal finite time extinction, the optimal solution is egalitarian for appropriate choices of the critical utility levels: all individuals of any cohort are given the same consumption. The results obtained do not require any priori restriction of the values of the elasticity of intertemporal substitution unlike in several related papers.

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Paper provided by HAL in its series Working Papers with number halshs-00599084.

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Date of creation: 08 Jun 2011
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Handle: RePEc:hal:wpaper:halshs-00599084
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  1. R. Boucekkine & F. del Rio & O. Licandro & Luis A. Puch, 2000. "Vintage Capital and the Dynamics of the AK Model," Econometric Society World Congress 2000 Contributed Papers 0436, Econometric Society.
  2. Boucekkine, Raouf & de la Croix, David & Licandro, Omar, 2002. "Vintage Human Capital, Demographic Trends, and Endogenous Growth," Journal of Economic Theory, Elsevier, vol. 104(2), pages 340-375, June.
  3. Palivos, Theodore & Yip, Chong K., 1993. "Optimal population size and endogenous growth," Economics Letters, Elsevier, vol. 41(1), pages 107-110.
  4. Razin, Assaf & Yuen, Chi-Wa, 1995. "Utilitarian Tradeoff between Population Growth and Income Growth," Journal of Population Economics, Springer, vol. 8(1), pages 81-87, February.
  5. Fabbri, Giorgio & Gozzi, Fausto, 2008. "Solving optimal growth models with vintage capital: The dynamic programming approach," Journal of Economic Theory, Elsevier, vol. 143(1), pages 331-373, November.
  6. Raouf BOUCEKKINE & Giorgio FABBRI & Fausto GOZZI, 2011. "Life span and the problem of optimal population size," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 2011018, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
  7. Nerlove, Marc & Razin, Assaf & Sadka, Efraim, 1985. "Population Size: Individual Choice and Social Optima," The Quarterly Journal of Economics, MIT Press, vol. 100(2), pages 321-34, May.
  8. repec:hal:wpaper:halshs-00536073_v1 is not listed on IDEAS
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