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Models with quasi-endogenous population

Part of the Contributions to Economics book series (CE)

Keywords

Human Capital Population Growth Rate Time Allocation Physical Capital Hamiltonian Function 
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References

  1. 2.
    Economic theories of fertility have been around for over two hundred years, for example, see Malthus (1798).Google Scholar
  2. 4.
    Becker (1991), 138.Google Scholar
  3. 5.
    Becker and Lewis (1973) and Becker (1991).Google Scholar
  4. 6.
    Ermisch (2003), 113.Google Scholar
  5. 7.
    For Germany, see Wirth and Dümmler (2004). Data shows that better educated women are more likely to remain childless than women with average education.Google Scholar
  6. 8.
    In Germany (old Lander) the majority of non-working mothers of children under 12 would like to work but are not able to do so as both child care and working hours are inadequate. See Rürup and Gruescu (2005), 21.Google Scholar
  7. 9.
    Lucas (1988) employs the Benthamite utility function which takes the size of future generations into account. In Model 3 and all following models a widely used utility function without taking account of n is applied. One reason for this is purely technical. Applying a Benthamite utility function would complicate the solution of the model considerably as the first-order condition \( \frac{{\partial J}} {{\partial L}} = - \dot \mu _3 \) (see (8.21)) would result in an equation which cannot be solved with the Hamiltonian approach. The other reason is that this way we are able to concentrate on the effects of an ageing population (see also Model 2 and Model 4) by introducing the dependency ratio D, rather than the effects of a declining or increasing population.Google Scholar
  8. 11.
    See Solow (2000), 125.Google Scholar
  9. 12.
    For example, see Barro and Sala-i-Martin (1998).Google Scholar
  10. 13.
    We assume that one extra year spent in education translates into a 10 percent rise in human capital, see e.g. OECD (2002), 16.Google Scholar
  11. 17.
    OECD (1998a), (2003).Google Scholar

Copyright information

© Physica-Verlag Heidelberg 2007

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