Loading...
Please wait, while we are loading the content...
Similar Documents
Pareto-efficiency and endogenous fertility : a simple model
| Content Provider | Semantic Scholar |
|---|---|
| Author | Michel, Philippe Wigniolle, Bertrand |
| Copyright Year | 2008 |
| Abstract | This article is devoted to the study of the Pareto-e¢ ciency of the competitive equilibrium for a simple overlapping generations economy with endogenous fertility. For CES utility and production functions, it is proved that the economic properties of the economy are closely related to the two elasticities of substitution. First, the competitive equilibrium exists and is unique if the sum of the two elasticities is not smaller than one. Secondly, a set of parameters is provided such that the equilibrium is both in under-accumulation and ine¢ cient. Thirdly, a su¢ cient condition is proved that ensures that an equilibrium converging in under-accumulation is Pareto-e¢ cient: the sum of the two elasticities must not be greater than two. Keywords: endogenous fertility, Pareto-e¢ ciency. JEL Classi cation: D9, J13, and D61. |
| File Format | PDF HTM / HTML |
| Alternate Webpage(s) | https://halshs.archives-ouvertes.fr/halshs-00306463/document |
| Alternate Webpage(s) | https://halshs.archives-ouvertes.fr/file/index/docid/306463/filename/parendofecmpsrev.pdf |
| Alternate Webpage(s) | http://hal.archives-ouvertes.fr/docs/00/30/64/63/PDF/parendofecmpsrev.pdf |
| Alternate Webpage(s) | https://hal-pse.archives-ouvertes.fr/halshs-00306463/document |
| Language | English |
| Access Restriction | Open |
| Subject Keyword | Cations Convergence (action) Infertility study Kind of quantity - Equilibrium Nash equilibrium Pareto efficiency Small Tree accumulation |
| Content Type | Text |
| Resource Type | Article |
